Professional Tax Firm CTR Warns Taxpayers Against Delaying Tax Return Amendments

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A professional tax firm is warning its clients not to put off filing any amendments to tax returns this season.

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CTR offers tax debt resolution and tax services for individuals and businesses across the United States.

CTR’s Lubbock tax attorney looks forward to each year’s tax season. This year, the normal amount of rushing associated with filing many income tax returns is accompanied by warnings for clients regarding amendments. During the previous season, several clients found themselves struggling due to mistakes that were made and then had to be amended well after the typical submission period.

CTR knows that mistakes can be made during filing of a tax return, and if they are not caught the IRS can reject a return, send it back or have to fix the error on its own. The company’s Lynwood tax attorney warns that one of the more significant downsides to tax return errors like improperly filed deductions can reduce the amount of tax refunds. In this case, the IRS can process the deductions themselves and an individual may miss out on some credits they are due.

CTR is also warning clients about paying attention to the pre-printed details on tax forms sent by employers. There are two potential issues here that can cause problems when filing. The first is incorrect financial information. If the wrong amounts of income, taxes withheld or exemptions are indicated on forms, it can throw off the IRS and having a Malibu tax attorney modify a return may be necessary. A secondary problem that can occur is a simple delay in the issuing of a tax refund. If a name or address is wrong, a return may not be sent or may be received by the wrong person. There are also concerns relating to tax fraud.

CTR has informed many taxpayers of the final problem associated with delayed amendments to returns: fees and interest. If the IRS does not accept a return and it cannot be submitted, an individual may see fees and interest accrued to their account. This can result in tax debt, for which an individual should hire an expert like Manhattan Beach tax attorney. Tax debt can lead to collections, seizure of property and damaged credit ratings. As a legitimate creditor that is also involved with the government, the IRS can pursue debts and does not require the same legal standing as other creditors to reclaim the money owed to it.

CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.

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Henry Johnson
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