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How can i reverse this business tax filing error?

Question: How can i reverse this business tax filing error?

(Posted by: Fitnessfreak on 2011-11-17 21:07:57)

I filed a tax return for 2010 and 2011 using 1040. I mistakenly filed tax documents for my sole member LLC. My business was in the start up period both years. Is there anyway I can have these returns deleted? How do I amend a document that should have never been filed? I had a loss both years because my business hadn’t started yet. So if I want the schedule C erased would I just type a note and send it with the 1040X, cause I didn’t need to file the schedule C in the first place?


Answers:

Posted by: a tax lady on 2011-11-17, 21:47:38

Tell us exactly what you put on the schedule C for both gross and net. Any change to a 1040 must be through the 1040X. Changing a schedule C (or saying never mind, there shouldn’t have been a schedule C) can be a pain since the IRS knows such changes mean you have no idea what you are doing and may subject you to further examination. If you amend both 2009 and 2010 (you can’t have filed 2011 yet), put them in separate envelopes. This is why we have repeatedly told you to use a professional.

  

Posted by: Priynka on 2011-11-18, 00:31:20

The sales and use tax reverse audit conducted by tax practitioners is similar in many … & recovery of sales and use tax overpayments remitted to suppliers or filed … directed or advised, sales and use tax may be paid to suppliers in error. .. While many states, including Georgia, require taxpayers to request refunds from the suppliers to whom the tax was originally remitted, others allow taxpayers to request refunds directly from tax authorities. After analyzing erroneous payments and composing the necessary documents, the reviewer prepares the overpayment schedules and presents the findings to the company. Management should look at and discuss the overpayments to identify any potential issues and concerns that may arise. A refund request can trigger a sales and use tax audit.

  

Posted by: tro on 2011-11-18, 09:14:04

That’s what a 1040X does

  

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