Have you ever discovered an overlooked deduction on a federal tax return that has already been filed? Or did you ever realize that you didn’t report income or reported too much? An amended tax return may be the answer. Amended returns generally must be filed within three years from the date you filed the original return, or within two years after the date you paid the tax, whichever is later. However, there are exceptions to this rule. For example, when it comes to amending a tax return to claim a loss for worthless investments or nonbusiness bad debts, you have up to seven years. We can answer questions about your situation.
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