Made A Mistake On Your Tax Return? 15 Things You Need To Know

photocredit: Getty Most folks assume that work for tax professionals tapers off after Tax Day, but for many of us, the pace actually picks up. This is often the time when the tough questions begin. And chief among them: What happens if you discover a mistake on your tax return? My answer is almost always the same: Mistakes are totally fixable. Here’s what you need to know: 1. The Internal Revenue Service (IRS) may fix the mistake for you. Most of the time, you’ll want to fix your own mistakes. But every now and again, it might make sense to let the IRS do it. The IRS will correct math errors and may even figure a capitulation for you (bringing a total from a schedule that you forgot to bring forward). In some cases, the agency may apply that estimated payment that you forgot that you made. These are the sorts of relatively harmless errors that you can happily let IRS correct for you. If the IRS does correct a mistake, you’ll receive a letter explaining…

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