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Robert K
Can I File a amended federal tax return after receiving a face to face examination letter?
I am self employed, While trying to find receipts and things for utility bills and other receipts, I found deductions that I forgot to report. I also reported "MORE" income then I actually made.(Yes, I actually said I made more money than I really did) I am a horrible book keeper and should never do my own tax returns, I did use Turbo Tax.
Anyway, going over things, I discovered that pretty much the whole return was done wrong. I tried not to deduct to much because I didn't want to throw up red flags, So I actually stopped looking for more deductions. I was actually trying to avoid showing a loss on my 1040 schedule C , Not good when you are trying to buy stuff on credit when you are self employed. But anyway, I still get this face to face examination letter questioning deductions I did take. I can't find the receipts for some of this stuff. I do have receipts for allot of the deductions I am entitled too, but didn't report. I am seriously stressed out and I really want to correct this 2008 return before the examination if possible. Can I do it? Anybody know? Should I just take the receipts for deduction I didn't take? I don't really care about a refund, I just don't want the IRS to throw me in jail and take my business and my house!!
Help!
`Bob from Baltimore
6 AnswersUnited States1 decade ago