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Deductions & credits
A tax professional may know a few loopholes or work-a-rounds to help with that for all I know.
I'd say the main "loophole" here.....that professionals would know.....would be NOT to amend returns on which the statute of limitations has run. It works both ways.......you can't get a refund after 3 years because of the statute of limitations and the IRS CAN'T assess additional tax after 3 years unless there is fraud or substantial understatement of income. No matter what, a pro is needed.
May 27, 2021
3:50 PM
12,021 Views