Monday, June 16, 2014

IRS Adopts "Taxpayer Bill of Rights" -

The Internal Revenue Service today announced the adoption of a "Taxpayer Bill of Rights" that will become a cornerstone document to provide the nation's taxpayers with a better understanding of their rights.

The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code and groups them into 10 broad categories, making them more visible and easier for taxpayers to find on IRS.gov.

Publication 1, "Your Rights as a Taxpayer," has been updated with the 10 rights and will be sent to millions of taxpayers this year when they receive IRS notices on issues ranging from audits to collection. The rights will also be publicly visible in all IRS facilities for taxpayers and employees to see.

"The Taxpayer Bill of Rights contains fundamental information to help taxpayers," said IRS Commissioner John A. Koskinen. "These are core concepts about which taxpayers should be aware. Respecting taxpayer rights continues to be a top priority for IRS employees, and the new Taxpayer Bill of Rights summarizes these important protections in a clearer, more understandable format than ever before.”

The IRS released the Taxpayer Bill of Rights following extensive discussions with the Taxpayer Advocate Service, an independent office inside the IRS that represents the interests of U.S. taxpayers. Since 2007, adopting a Taxpayer Bill of Rights has been a goal of National Taxpayer Advocate Nina E. Olson, and it was listed as the Advocate’s top priority in her most recent Annual Report to Congress.

“Congress has passed multiple pieces of legislation with the title of ‘Taxpayer Bill of Rights,’” Olson said. “However, taxpayer surveys conducted by my office have found that most taxpayers do not believe they have rights before the IRS and even fewer can name their rights. I believe the list of core taxpayer rights the IRS is announcing today will help taxpayers better understand their rights in dealing with the tax system.”

The tax code includes numerous taxpayer rights, but they are scattered throughout the code, making it difficult for people to track and understand. Similar to the U.S. Constitution’s Bill of Rights, the Taxpayer Bill of Rights contains 10 provisions. They are:

1. The Right to Be Informed

2. The Right to Quality Service

3. The Right to Pay No More than the Correct Amount of Tax

4. The Right to Challenge the IRS’s Position and Be Heard

5. The Right to Appeal an IRS Decision in an Independent Forum

6. The Right to Finality

7. The Right to Privacy

8. The Right to Confidentiality

9. The Right to Retain Representation

10. The Right to a Fair and Just Tax System

The rights have been incorporated into a redesigned version of Publication 1, a document that is routinely included in IRS correspondence with taxpayers. Millions of these mailings go out each year. The new version has been added to IRS.gov, and print copies will start being included in IRS correspondence in the near future.

The timing of the updated Publication 1 with the Taxpayer Bill of Rights is critical because the IRS is in the peak of its correspondence mailing season as taxpayers start to receive follow-up correspondence from the 2014 filing season. The publication initially will be available in English and Spanish, and updated versions will soon be available in Chinese, Korean, Russian and Vietnamese.

The IRS has also created a special section of IRS.gov to highlight the 10 rights. The web site will continue to be updated with information as it becomes available, and taxpayers will be able to easily find the Bill of Rights from the front page. The IRS internal web site for employees is adding a special section so people inside the IRS have easy access as well.

As part of this effort, the IRS will add posters and signs in coming months to its public offices so taxpayers visiting the IRS can easily see and read the information.

"This information is critically important for taxpayers to read and understand,” Koskinen said. “We encourage people to take a moment to read the Taxpayer Bill of Rights, especially when they are interacting with the IRS. While these rights have always been there for taxpayers, we think the time is right to highlight and showcase these rights for people to plainly see.”

“I also want to emphasize that the concept of taxpayer rights is not a new one for IRS employees; they embrace it in their work every day,” Koskinen added. “But our establishment of the Taxpayer Bill of Rights is also a clear reminder that all of the IRS takes seriously our responsibility to treat taxpayers fairly.


Koskinen added, "The Taxpayer Bill of Rights will serve as an important education tool, and we plan to highlight it in many different forums and venues."

Questions? Give us a call, we're here to help.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Seattle Area Biz Tacks 'Living Wage Surcharge' Onto Receipts In Response To $15/Hour Minimum Wage -

Simple economics: as costs go up, so do prices.
We know this. When weather damaged crops last year, you saw it at the grocery store. When gas costs edged up, so did delivery fees. And as the price of beef has crept up, so have the costs of many items on restaurant menus.
Article originally published on Forbes.com by Kelly Phillips Erb - 06/123/2014
Customers generally understand that this is the way companies operate. Most businesses, in return, don’t make those increases quite so public, sneaking rates up or quietly tacking on additional fees.
Sometimes, however, companies want customers to understand the increases, if only to prove a point. Earlier this year, Gator’s Dockside, a chain of self-described “family-friendly, sports-themed restaurants” in Florida, made news when it started charging an “ACA Surcharge” ostensibly to cover the cost of implementing the Affordable Care Act (sometimes called Obamacare).
Now, MasterPark, a parking business at Sea-Tac International Airport located just outside of Seattle, Washington, is making its own statement about the new minimum wage. Earlier this month, Seattle City Council voted to raise the minimum wage to $15 an hour, phased in over a number of years, a rate that’s more than twice the current federal minimum wage of $7.25 an hour. Last year, SeaTac, the town where Sea-Tac is located (confusing, I know) passed its own law raising the minimum wage, making most of the metropolitan area subject to (or soon to be subject, depending on the exact location) to the new minimum.
To combat the increased costs, MasterPark has tacked a “living wage surcharge” of 99 cents per day onto customer bills. Rather than simply raise prices, MasterPark is separately stating the surcharge – to prove a point – wedging it nicely between “airport access fee” and “sales tax” on the receipt.
The company has posted an explanation on its website, saying:
MasterPark charges, taxes, and fees include a ‘Living Wage’ surcharge. This is due to the $15 per hour minimum wage requirement for certain businesses in SeaTac. The surcharge covers a portion of the resulting increase in operating costs.
In Seattle proper, the minimum wage increase won’t begin to be phased in until April 15, 2015. That said, there’s also a chance the increase might not happen at all. A number of challenges have been raised, including a lawsuit filed in U.S. District Court which claims that the increase “unfairly and irrationally discriminates against interstate commerce generally, and small businesses that operate under the franchise business model specifically.”
English: A section of the Seattle-Tacoma Inter...
English: A section of the Seattle-Tacoma International Airport ticketing area. This section shows ticketing areas 4 & 5. (Photo credit: Wikipedia)
The status of the bill won’t change the nature of the surcharge to businesses (though it could rankle consumers). While taxes collected by a business on behalf of a third party are not considered income to a business, a self-imposed surcharge – no matter what the reasoning – is considered income. Sales taxes, however, which are collected from customers to be passed along to state and local tax authorities are not income to the business. In fact, in most jurisdictions, that money isn't attributable to the businesses at all: the term “trust fund taxes” applies to since those dollars are being held by the business for the benefit of a third party (similar to employee-side retirement contributions).
The “living wage” surcharge, however, is completely taxable to MasterPark: it doesn't matter what label is slapped on it. Clearly, any money that is actually used to pay employees the increased wage (the cost of doing business) would be deductible but merely stating that the surcharge is meant to cover costs doesn’t make it so.
While MasterPark may be at the front of the pack when it comes to labeling the surcharge on its receipts, it isn't expected to be the last. Paul Guppy, research director of the Washington Policy Center, expects the trend to continue with other businesses.
Most customers ultimately believe that transparency is a good thing. But could separating out costs on a business by business basis be confusing for consumers?
In most state and local jurisdictions, businesses are required by law to separately state the sales tax amount on a receipt; alternatively, some states allow businesses to provide a written statement indicating that the sales price includes sales tax so long as the amount of the tax is clear. Other kinds of taxes may also be required by law to be stated separately; a common example of such taxes are liquor taxes which are found on some restaurant receipts.
At some point, if businesses tack on other costs, in addition to sales and other taxes, as separate line items, how long is that sales receipt going to be? If businesses pick and choose which costs to break out for consumers, what is the real result? Will our eyes start to glaze over as we blindly pay our bills, noally aware of the actual price of goods and services? And is that good for competition? I’m not so sure. What do you think?

Wednesday, June 4, 2014

Six Tips on Making Estimated Tax Payments -

If you don't have taxes withheld from your pay, or you don't have enough tax withheld, then you may need to make estimated tax payments. If you're self-employed you normally have to pay your taxes this way.

Here are six tips you should know about estimated taxes:

1. You should pay estimated taxes in 2014 if you expect to owe $1,000 or more when you file your federal tax return. Special rules apply to farmers and fishermen.

2. Estimate the amount of income you expect to receive for the year to determine the amount of taxes you may owe. Make sure that you take into account any tax deductions and credits that you will be eligible to claim. Life changes during the year, such as a change in marital status or the birth of a child, can affect your taxes.

3. You normally make estimated tax payments four times a year. The dates that apply to most people are April 15, June 16 and Sept. 15 in 2014, and Jan. 15, 2015.

4. You may pay online or by phone. You may also pay by check or money order, or by credit or debit card. If you mail your payments to the IRS, use the payment vouchers that come with Form 1040-ES, Estimated Tax for Individuals. Or, you may also electronic payment options on IRS.gov. The Electronic Filing Tax Payment System is a free and easy way to make your payments electronically.

5. Use Form 1040-ES and its instructions to figure your estimated taxes.

6. Questions about estimated tax payments? Give us a call. We're here to help you with these and all of your tax needs


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Tuesday, June 3, 2014

Starting a Business? Five Things You Must Know -

Starting a new business is a very exciting and busy time. There is so much to be done and so little time to do it in. If you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up and running. That's where we can help.

Employer Identification Number (EIN) 
Securing an Employer Identification Number (also known as a Federal Tax Identification Number) is the first thing that needs to be done, since many other forms require it. EINs are issued by the IRS to employers, sole proprietors, corporations, partnerships, nonprofit associations, trusts, estates, government agencies, certain individuals, and other business entities for tax filing and reporting purposes.

The fastest way to apply for an EIN is online through the IRS website or by telephone. Applying by fax and mail generally takes one to two weeks. Please note that as of May 21, 2012 you can only apply for one EIN per day. The previous limit was 5.


State Withholding, Unemployment, and Sales Tax
Once you have your EIN, you need to fill out forms to establish an account with the State for payroll tax withholding, Unemployment Insurance Registration, and sales tax collections (if applicable).


Payroll Record Keeping
Payroll reporting and record keeping can be very time consuming and costly, especially if it isn't handled correctly. Also keep in mind, that almost all employers are required to transmit federal payroll tax deposits electronically. Personnel files should be kept for each employee and include an employee's employment application as well as the following:

Form W-4 is completed by the employee and used to calculate their federal income tax withholding. This form also includes necessary information such as address and social security number.

Form I-9 must be completed by you, the employer, to verify that employees are legally permitted to work in the U.S.


If you need help setting up the paperwork for your business, give us a call. Letting our experts handle this part of your business will allow you to concentrate on running your business.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Claiming an Elderly Parent as a Dependent -

Are you taking care of an elderly parent or relative? According to the U.S. Census Bureau, there were 43.1 million people age 65 and older in the United States in 2012, nearly 15 percent of the total population.

Whether it's driving to doctor appointments, paying for nursing home care or medical expenses, or handling their personal finances, dealing with an elderly parent or relative can be emotionally and financially draining, especially when you are taking care of your own family as well.

Fortunately, there is some good news: You may be able to claim your elderly relative as a dependent come tax time, as long as you meet certain criteria.

Here's what you should know about claiming an elderly parent or relative as a dependent.


Who qualifies as a dependent?

The IRS defines a dependent as a qualifying child or relative. A qualifying relative can be your mother, father, grandparent, stepmother, stepfather, mother-in-law, or father-in-law, for example, and can be any age.

There are four tests that must be met in order for a person to be your qualifying relative: not a qualifying child test, member of household or relationship test, gross income test, and support test.

Not a Qualifying Child
Your parent (or relative) cannot be claimed as a qualifying child on anyone else's tax return.

Residency
He or she must be U.S. citizen, U.S. resident alien, U.S. national, or a resident of Canada or Mexico; however, a parent or relative doesn't have to live with you in order to qualify as a dependent.
If your qualifying parent or relative does live with you however, you may be able to deduct a percentage of your mortgage, utilities and other expenses when you figure out the amount of money you contribute to his or her support.

Income
To qualify as a dependent, income cannot exceed the personal exemption amount, which in 2014 is $3,950. In addition, your parent or relative, if married, cannot file a joint tax return with his or her spouse unless that joint return is filed only to claim a refund of withheld income tax or estimated tax paid.

Support
You must provide more than half of a parent's total support for the year such as costs for food, housing, medical care, transportation and other necessities.


Claiming the Dependent Care Credit

You may be able to claim the child and dependent care credit if you paid work-related expenses for the care of a qualifying individual. The credit is generally a percentage of the amount of work-related expenses you paid to a care provider for the care of a qualifying individual. The percentage depends on your adjusted gross income. Work-related expenses qualifying for the credit are those paid for the care of a qualifying individual to enable you to work or actively look for work.

In addition, expenses you paid for the care of a disabled dependent may also qualify for a medical deduction (see next section). If this is the case, you must choose to take either the itemized deduction or the dependent care credit. You cannot take both.


Claiming the Medical Deduction

If you claim the deduction for medical expenses, you still must provide more than half your parent's support; however, your parent doesn't have to meet the income test.

The deduction is limited to medical expenses that exceed 10 percent of your adjusted gross income (7.5 percent if either you or your spouse was born before January 2, 1949), and you can include your own unreimbursed medical expenses when calculating the total amount. If, for example, your parent is in a nursing home or assisted-living facility. Any medical expenses you paid on behalf of your parent are counted toward the 10 percent figure. Food or other amenities however, are not considered medical expenses.

What if you share caregiving responsibilities?

If you share caregiving responsibilities with a sibling or other relative, only one of you--the one proving more than 50 percent of the support--can claim the dependent. Be sure to discuss who is going to claim the dependent in advance to avoid running into trouble with the IRS if both of you claim the dependent on your respective tax returns.

Sometimes, however, neither caregiver pays more than 50 percent. In that case you'll need to fill out IRS Form 2120, Multiple Support Declaration, as long as you and your sibling both provide at least 10 percent of the support towards taking care of your parent.

The tax rules for claiming an elderly parent or relative are complex. If you have any questions, please give us a call. We're here to help you.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Monday, June 2, 2014

Tax Due Dates for June 2014 -

June 10


Employees who work for tips - If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.

June 16


Individuals - If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 and pay any tax, interest, and penalties due. (U.S. citizens living in the U.S. should have paid their taxes on April 15.) If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file. Then file Form 1040 by October 15. However, if you are a participant in a combat zone, you may be able to further extend the filing deadline.

Individuals - Make a payment of your 2014 estimated tax if you are not paying your income tax for the year through withholding (or will not pay enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2014.

Corporations - Deposit the second installment of estimated income tax for 2014. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May.

Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

STS QuickBooks Tips - Do You Need to Use QuickBooks' Fixed Asset Tools?

Much of the work you do in QuickBooks is short-term. You send an invoice and it gets paid. Your purchase order is fulfilled and the products move into your inventory. You run payrolls and submit their related taxes and other payments.

Managing the life cycle of your fixed assets is an exception. Fixed assets are physical entities that you purchase to help your business generate revenue, like property, a vehicle or a commercial oven. By definition, they must be in use for over 12 months.


Figure 1: You'll need our help in depreciating the book value of your fixed assets, but careful recording of them will make your QuickBooks reports, your taxes and your company's worth more accurate. 

QuickBooks can help you track these, but both the value of your company and your tax obligations--and the sale price, should you eventually sell them--are affected by how the book value of your fixed assets is depreciated. It's important that you work closely with us over the life of each one. What you can do on your own, though, is to maintain accurate records in this area.


Two Paths

The best time to start recording information about a fixed asset is while you're creating a transaction related to its purchase. You can build an item record for it as you're filling out the Item section of Enter Bills, Write Checks, Enter Credit Card Charges or Purchase Order.

Let's say you're writing a check for a new company truck. You'd go to Banking | Write Checks and fill in the blanks. Click the Items tab below the MEMO field, and then click the down arrow in the ITEM field. Scroll up to the top of the list if necessary and select Add New. You'll see this menu:



Figure 2: Keep track of your company's fixed assets by creating item records for them. You can do this as you're entering transactions for their purchase. 

Click on Fixed Asset to open the New Item window.


Transactions Not Required

There may be times when you'll want to create an item record for a fixed asset when you're not processing a transaction. Such situations include:
  • Cash purchases
  • Transfer of a personal asset to your company
  • Purchase of a fixed asset with personal funds, or
  • A multi-item purchase.
To do this, click on the Lists menu and select Fixed Asset Item List. If you're adding a new one, right-click anywhere in the list part of the screen and select New (or click the down arrow next to the Item button in the lower left of the screen and click New). The same New Item window that you opened from the check-writing screen appears.

You've already chosen Fixed Asset as the TYPE, so your cursor should be in the Asset Name/Number field. Enter an easy-to-recognize name so that you'll be able to quickly identify it in reports. Select the correct Asset Account (ask us if you're not sure) and type a description in the Purchase Description field, clicking the correct button for new or used.

Enter the Date purchased, the Cost and the Vendor/Payee. Don't worry about the SALES INFORMATION fields until--and if--you eventually sell the asset.


Figure 3: You should be able to complete the New Item window in QuickBooks for your fixed assets on your own, but consult with us on any questions. 


Under ASSET INFORMATION, enter the Asset Description (you can write a lengthier description here), its Location, PO Number if applicable, Serial Number and warranty expiration date. Add Notes if you'd like, and you're done--unless you want to incorporate Custom Fields. If so, click the Custom Fields button in the upper right, then Define Fields.

(We can provide the depreciation and book value numbers under FIXED ASSET MANAGER.)
Your fixed asset records are critical elements of QuickBooks. You may be storing similar information elsewhere in your office records, but QuickBooks needs it, too, so you'll have a comprehensive accounting of your company's value.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Thursday, May 29, 2014

Man Convicted Over Threat To Kill IRS Agent---You Thought Your Audit Was Bad

No one thinks paying tax is fun. Being audited or chased for back taxes isn't either. Many tax collectors know there can be a kind of shoot the messenger mentality, especially when the IRS is trying to collect. That’s one reason among many to hire a professional to handle your tax case. That way you won’t say the wrong thing.
What’s the worst thing you can say to the IRS? Well, make sure you don’t threaten the IRS, not even in jest. In fact, no matter how frustrated you feel—even if you think what the IRS is doing is illegal—don't threaten an IRS Agent or his family.
In fact, doing so has to go down as the worst possible way to try to resolve a tax case. No one in his right mind would do this. Sure, taxes can make you crazy, but there’s a limit to what the government will tolerate.
Andrew A. Calcione of Rhode Island was dealing with the IRS over his 2008, 2009 and 2010 tax debts. The asserted liability was big, over $300,000. Mr. Calcione may even have believed he was getting unfairly hassled. But what was occurring happens in many if not most tax cases. The IRS needed consents to keep the statute of limitations open.
2
In April 2013, while working on an audit, the IRS Revenue Agent requested Mr. Calcione and his ex-wife to sign a consent form to extend the time for the IRS to make an assessment. Mr. Calcione signed the form but his ex-wife had not. The Revenue Agent left a voicemail message asking Mr. Calcione about returning the form.
In response, Mr. Calcione left two voicemail messages for the IRS Agent threatening to torture the Agent, rape and kill the Agent’s wife, injure the Agent’s daughter and then finally kill the Agent. He evidently forgot the maxim: No Matter How Big Your Tax Bill, You Probably Shouldn’t Threaten to Kill IRS Employees. The IRS Agent reported the calls to the authorities, who determined the voicemails were enough to charge Mr. Calcione.
Then he was prosecuted. And now, a federal judge has found Mr. Calcione guilty of threatening assault and murder. Mr. Calcione is due to be sentenced in September, and could face up to twenty years. Of course, his tax debts don’t go away either.
How long can the IRS audit, and what should Mr. Calcione have done? The IRS usually has three years after you file to audit. If you omit more than 25% of your income, the IRS gets six years. But frequently, the IRS says it needs more time to audit and asks you to sign a form extending the statute, usually for a year.
The IRS asks you to extend the statute, as it did to Mr. Calcione and his ex-wife. Remember, joint tax returns involve two taxpayers. Mr. Calcione signed, which makes sense. In fact, most tax advisers say you should usually agree. If you say “no” or ignore the request, the IRS will assess extra taxes.
However, get some professional advice about your own situation. You may be able to limit the time or scope of the extension. If you file a false return under-report income or willfully fail to file, the time limit is six years or in some cases even longer. The stakes go up too, including potential criminal charges and prison.
And when it comes to prison, unless you want to land there for a very long time, don’t threaten to kill the IRS…or anyone else.


North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701

Ten Facts on Filing an Amended Tax Return

What should you do if you already filed your federal tax return and then discover a mistake? First of all, don't worry. In most cases all you have to do is file an amended tax return. But before you do that, here are 10 facts you should be aware of when filing an amended tax return.


1. Use Form 1040X, Amended U.S. Individual Income Tax Return, to file an amended tax return. An amended return cannot be e-filed. You must file it on paper. Contact us if you need assistance or have any questions about Form 1040X.


2. File an amended tax return if there is a change in, or you made an error regarding your filing status, income, deductions or credits on your original return.


3. In most cases, you do not need to file an amended return to correct math errors because the IRS automatically makes those changes for you. Also, do not file an amended return because you forgot to attach tax forms, such as W-2s or schedules. The IRS normally will send a request asking for those.


4. Generally, you must file Form 1040X within three years from the date you filed your original tax return or within two years of the date you paid the tax, whichever is later. For example, the last day for most people to file a 2010 claim for a refund is April 15, 2014. Special rules may apply to certain claims. For more information see the instructions for Form 1040X or call us.


5. If you are amending more than one tax return, prepare a 1040X for each return and mail them to the IRS in separate envelopes. Note the tax year of the return you are amending at the top of Form 1040X. You will find the appropriate IRS address to mail your return to in the Form 1040X instructions.


6. If your changes involve the need for another schedule or form, you must attach that schedule or form to the amended return.


7. If you are filing an amended tax return to claim an additional refund, wait until you have received your original tax refund before filing Form 1040X. Amended returns take up to 12 weeks to process. You may cash your original refund check while waiting for the additional refund.


8. If you owe additional taxes with Form 1040X, file it and pay the tax as soon as possible to minimize interest and penalties.


9. You can track the status of your amended tax return for the current year three weeks after you file. You can also check the status of amended returns for up to three prior years.


10. To use the "Where's My Amended Return" tool on the IRS website, just enter your taxpayer identification number (usually your Social Security number), date of birth and zip code. If you have filed amended returns for more than one year, you can select each year individually to check the status of each.


Questions about amended returns? Give us a call today. We'll take care of it--so you don't have to.



North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701