Video instructions and help with filling out and completing Fill Form 2220 Amended

Instructions and Help about Fill Form 2220 Amended

Hi guys this is a tremendous senior program coordinator for York College and what I'm going to be going through today for you guys is I'm going to be showing you how to do amendments to returns now I want to point out a couple differences between you know doing an amendment and between just filing a return before actually getting to the process of showing you how it's done now major difference between an amendment and just filing a return is that when you're filing an amendment you're assuming that this return has already been accepted and what has happened is that when it was the amount that was originally accepted is incorrect and this person now needs to go back and fix those incorrect amounts so that the correct amount may not be reflected now when you're finding a regular return you are doing with a goal so that it can be accepted so at this point you are filing everything under the assumption that all of the information is already correct and you are just trying to get your client your refund or get into it see what exactly they're going to be owing the IRS regardless of the outcome so that's the first thing I want to point out as far as amendments and just filing a return when you're doing an amendment you definitely want to make sure that your client is from our site why I say this is because before you can start making any changes to a return you have to make sure that the return that you have in your system is was done exactly the way that it was done where they originally filed so if a client went and they file their taxes with somebody else the H&R Block Jack's give away whatever the case may be and then they come to our side to you know do their taxes I mean getting amendments what's going to happen is it's going to be very difficult for us to reflect exactly how it was done originally because they made a view they may have used a different tax program or whatever the case may be so first thing they wanted second thing you want to make sure is that not only the did your client already file a return any was accepted but also they did it at our site now once you've made sure that these two things are you know in line what's going to happen is you're going to pull up your client return in the system make sure that you know go back over it make sure everything that you have in the system was done exactly how they did it originally they should have a copy of that year's return that where you could double-check and just look back to make sure that nothing in always change between the time when they filed and right now once you make sure that everything is good what you going to do next is you're going to be adding in the amendment forms now I'm going to go to add and I'm going to type in 1040 X this is the amendment form for the federal then I'm going to add in the tool on X which is the state amendment form all right now I'm going to kind of give you guys the overview of this form if you guys remember what I said earlier you have to make sure that the original number is that you had that the client originally did is what we currently have in our system the reason why is because how does form work so that it takes the original which was done right here based on what you have in your system currently then you are going to make changes in it which is going to come up in column B right here and then what's going to happen is it's going to adjust this original amount whatever your net change is to give you a new reflected correct amount and the only way you can do this is to ensure that original amount was the same as when the client did it putting in two different changes now get the new result now another thing is that this box right here that says check to override all entries in column a before you make any changes on the return you have to make sure that you check this box why is because if you do not check this box and you make your changes what's going to happen is the system is going to automatically assume but everything that is currently here including changes that you just made is a part of the original amount want that what you want is the all the changes that you're making you wanted to call into column B where it says net change all right so for the return that I'm using as an example I'm using the arrows Hudson in publication 44 91 W and what I did was I only put in her w-2 I did not put in her interest statement amount reason being is because I want to show you know how the net change works so what's going to happen now is I'm going to check this box right here to say check to override all entries and column 1 a you can notice that everything here is now blue right and I'm going to move over to here and I'm going to increase her Schedule B interest amounts to six dollars now what you notice is that her AGI went up and how you know you can go to this 1040x page one right here and you're going to see what the original amount is you can see that I increased her interest statement by 15 dollars and it gives us some new correct AGI so now the new one is now 31 9 5