What AMENDED RETURN means: A tax return filed on Form 1040X after the original return has been filed. An amended return is used to correct errors or to claim more advantageous ways of filing the original return. An amended return can also be used to carry back certain unused credits or a net operating loss.
- Definition Audit:
- Dictionary and verification of a taxpayer's return or other transactions with tax consequences. An office audit is an audit by the IRS that is conducted in the agent's office. A field audit is amended return definition.
- Definition Adjusted Basis:
- Dictionary original basis of property reduced by adjustments such as depreciation allowed or allowable and casualty losses, and increased by the cost of capital improvements, expenses of purchase, and other amended return explain.
- Definition Accrual Method Of Accounting:
- Dictionary common methods of accounting, the other being the cash method. Under the accrual method of accounting, income is reported in the tax year earned, whether or not received, and deductions are claimed amended return what is.
- Definition Annuitant:
- Dictionary A person who receives a pension or an annuity amended return meaning.
How works Amended Return meaning in Tax definitions A .
