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Retirement tax questions
@Misslee78653 wrote:
A friend of mine has a tax prep company and after she did my taxes, I owed about $6,000. I expected to owe money due to the distribution and 1099 income. My cousin said he had someone that does his taxes each year and he usually breaks even with his business or gets a refund, so I decided to go to him. He did my amended return and I was now due to receive a return of $9,000.
The skill of the tax preparer is not what gets you a refund or makes you owe. It depends entirely on your tax situation. If two preparers get significantly different results, at least one of them either is doing something wrong or is cheating. Two honest and knowledgeable preparers should both get the same results.
@Misslee78653 wrote:
At this point, the amended return has been mailed off, but not processed. When it was processed in Feb of this year, I was sent a check for the difference of the 2 returns (that I haven't cashed). I did a consultation with an accountant after submitting the amendment last July and he mentioned that my withdrawal/distribution was input twice.
Huh? It's "not processed" but it "was processed"? Please clarify the status of the amended return. Or are you talking about two different amended returns? If you have an amended return that has been mailed but has not been fully processed by the IRS, do not submit another amended return until the first one has been completely processed.