What is with the damn amended return finalizatin date being pushed back OVER AND OVER?

[FTAX]

Thousands of dollars every year for this software and I have to waste my time typing the information into the PDF b/c they are manipulating us into not using the amended returns yet.

[Just-Lisa-Now-]

Why would you have so many amended returns already? Filing season has been open less than a month.

[FTAX]

i do a lot of returns and people e-file early, then something they forgot about shows up in the mail

[Just-Lisa-Now-]

Shame on you for letting clients file before they have all their paperwork.

[FTAX]

How the hell would I know they've opened a new bank account or forgotten they've collected a week of unemployment 12 months earlier?  You mustn't do too many returns.

[dd4vols]

well... hmmm.... you could ask them....kinda like part of the stuff we normally do..... oh...and I do about 700 returns..

[Just-Lisa-Now-]

I prepare just under 600 returns and I ask many questions. This is part of being a professional tax preparer...you don't rely on the client to tell you everything, you have to ask about everything, especially for those that come in early.

I run down the list of potential income items with every client in front of me to be sure they or I haven't missed anything.

[garman22]

It does happen from time to time to me too. But when it does, they KNOW I prepare the amended on MY schedule as opposed to theirs. Plus they pay me $150 amend and more depending on what they missed. Money is their punishment.

[Just-Lisa-Now-]

Yikes, Im too nice, I need to charge more for amending!

[garman22]

Im sure we are close, Lis. I might be exaggerating a bit with $150. If someone missed something small and easy, I'll go 80-100. If there is more work, I'll do $150. I have a client who forgot a 1099-C (principal home) and I will charge accordingly there.  If we are off on those numbers, yeah....do yourself a favor and increase. 1040-X's are confusing as hell to the general public.

[Just-Lisa-Now-]

I do very few amended returns, maybe 3 or 4 a year, I'm more in the 60-100 range for an amended, really depends on what they forgot.....sometimes its not worth it for them to even amend, since my fee would be more than any additional refund that they may be getting.

[garman22]

Same here, Lisa. Some are not worth to amend. I do a few every year. More so around this time as ppl do forget goofy things and I always shake my head how ppl forget the income they take in.

[FTAX]

700 returns; nice being semi retired, you've got time to asked them, "Say, did you forget anything? Are your sure? Are you really, really, sure?"

[TaxGuyBill]

It would seem to me that it would take less time to verify the client has everything, than to amend many clients.

[IRonMaN]

Well, if you aren't asking them those questions you are doing them a disservice and creating problems for yourself as is evident from this post.  If your goal is to get as many returns done as quickly as possible you are succeeding.  If you are trying to get returns done correctly as the rest of us are evidently trying to do, then you aren't quite as successful in your goal.

[garman22]

Im not sure I overly agree here. You can ask a client until you are blue in the face if they have everything and they swear to you they do. Then they come in and say "WHOOOPS, I forgot I had this unemployment for a couple weeks, or I forgot i got this distribution.". Unless you dont let ANYONE file early. Then I see.

[TaxGuyBill]

@garman22   While you do have a valid point, I give them a list of questions that include such things as "did you sell stock ... did you collect any unemployment ... did you withdraw from retirement", etc. that should significantly reduce the number of "forgotten" items.

As I said before, if it is the client's mistake, make them wait.

[garman22]

oh @TaxGuyBill 100%, I agree with you. Part of my interview process is to go down the line of all income items. I am trying to eliminate that possibility of missing an item. But our clients forget all the time. I try to discourage filing too early unless you are a W-2 earner (even then I make sure there are no other jobs).

In the end my additional fee to amend does eliminate those who want to file too early.

[TaxGuyBill · Accepted solution]

If it is the client's fault for the mistake, make them wait until it is ready.

As for why it is late, the IRS has DRAFT instructions for 2018, but those Instructions are not Final yet.  Intuit rarely does any programming without Finalized Forms and Instructions.  So I suspect the main reason for the delay is because of the IRS's delayed final Instructions, not because of Intuit.

EDIT:  The IRS has now finalized the Instructions (on February 22nd), so it is likely that Intuit will finalize their things within a couple of weeks or so.

[Just-Lisa-Now-]

That was my understanding as well.

[FTAX]

But, IRS DOES have the PDF form on the website. I suspect they are just delaying it on purpose b/c of the shutdown. Maybe they're are backed up as it is, but who knows.  

[The-Tax-Lady]

There were 80,000+ amended returns to process when the shutdown ended and 5 million pieces of unopened mail. I'm guessing they have their hands full and I wouldn't file an amended return this year, unless the time to file was about to expire this tax season, until June or later.

[Just-Lisa-Now-]

   or if they owe money...then get it sent in by April 15th.:+1:

[garman22]

WOAH!!!!! 80+k?? Yeah, thats a lot of amended returns!

[The-Tax-Lady]

That's what Accounting Today stated in a recent article. I can't even imagine coming back to that mess.

[gabletax]

Don't forget, up until the deadline, Form 1040X isn't necessary.  You can file another original return and IRS will replace the first filing with the superseding return. It will have to be paper-filed, of course, but so would Form 1040X.

[Just-Lisa-Now-]

Anything paper filed will be sitting in a mail pile for who knows how long....they only open the envelopes to get any  money out, then toss 'em in a stack for processing.