Tax Tip - Review your 2009 Tax Return to determine the need to Amend the Return.

If you forgot to include some income or to take a deduction or to claim a credit(including the first time homebuyer or repeat homebuyer credit) on your tax return – you can correct it by amending your tax return.

Generally, to claim a refund, you must file Form 1040X within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later.

Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct a previously filed Form 1040, 1040A or 1040EZ. Be sure to check the box for the year of the return you are amending on the Form 1040X, Line B. The newly revised Form 1040X (Rev. January 2010) has only one column used to show the corrected figures and an area on the front of the form where you explain why you are filing Form 1040X.

2008 Efiling Starts Jan 16th, 2009

The Internal Revenue Service today announced the Jan. 16 opening of an expanded IRS e-file program for 2008 federal tax returns. The efile program is highlighted by new features that will allow expanded access to electronic filing and help people looking for faster refunds.
Taxpayers who use e-file and who choose direct deposit can receive their refund in as few as 10 days. That's because with e-file, there's no paper return going to the IRS. And with direct deposit, there's no paper refund going to the taxpayer. So it’s all electronic and much faster than paper.
IRS e-file allows taxpayers to file their returns now and pay later if they owe taxes. It allows taxpayers to file both federal and most state returns at the same time.




Source:IR-2009-005