Contact UsClient filed an LLC return for 2011. Tax preparer filed with incorrect information about the business and incorrect amounts throughout the return. What is the best way to file an amended return since the majority of the information that needs to be changed will not show up on the 1065X?
Principal business activity is incorrect. Principal product is incorrect, Business code number is incorrect. LLC member ownership percentages are incorrect. Basically the entire return was done incorrectly. Would I be best off to mail in a letter along with the correct return and a copy of the incorrect return?
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Tax Professional Answers
Robert Ferguson
If information was incorrect on the original 2011 return, a new amended 2011 return should be filed with the correct information. After the 2011 return is filed new 1040s may need to be filed for the partners involved with the business as well if the income amounts are different than were originally reported on the K1s.
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447 weeks ago