Do I need to amend prior years tax returns if I discover an error?

Joseph (Guest) on Monday, October 01 2012, 07:19 PM
While preparing our 2011 taxes I realized that there has been an error in the past few year’s MA tax returns (in the government’s favor) related to our Waltham home’s property tax. What’s the likelihood we will get audited? What’s our obligation to amend the prior year’s taxes and how would we go about doing it?
1 response Add Yours
       
  •  
    Replied by Attorney David Beliveau on Wednesday, October 03 2012, 09:51 AM · Hide · #1
    The likelihood of audit is hard to judge, but States have been getting more aggressive as revenues have fallen. Also, states now get more information from all sources and in lieu of full blown audits rely increasingly on return adjustment notices. There are even situations where the taxing authority can look beyond a three year statute to adjust tax due in more current years. Obviously, there are a lot of variables and a professional should be consulted to discuss the potential exposure.
Your Response

Top Massachusetts Attorneys Ready To Answer Your Questions

1
Attorney Alan Fanger
Attorney Alan Fanger
Trial & Litigation, Wills & Probate
2
Attorney Margaret Cross-Beliveau
Attorney Margaret Cross-Beliveau
Estate Planning, Elder Law, Wills & Probate
3
4
Attorney David Jensen
Attorney David Jensen
Estate Planning, Real Estate
5
Attorney Edward Cannon
Attorney Edward Cannon
Business Law, Real Estate
6
Attorney Stephen Morte
Attorney Stephen Morte
Divorce, Criminal Defense, Personal Injury
7
Attorney Austin Joyce
Attorney Austin Joyce
Trial & Litigation, Personal Injury
8
Attorney Joseph Leone
Attorney Joseph Leone
Divorce, Criminal Defense, Family Law
9
Attorney Michael Akerson
Attorney Michael Akerson
Business Law, Employment Law, Trial & Litigation
10
Attorney Craig Ciechanowski
Attorney Craig Ciechanowski
Business Law, Trial & Litigation, Real Estate
11
Attorney Jack Merrill
Attorney Jack Merrill
Employment Law
12
Attorney Bruce Watson
Attorney Bruce Watson
Divorce, Criminal Defense
13
Attorney Chesley Oriel
Attorney Chesley Oriel
Business Law, Real Estate
14
Attorney Kenneth Simmons
Attorney Kenneth Simmons
Estate Planning, Elder Law
15
Attorney Liam Floyd
Attorney Liam Floyd
Trial & Litigation, Personal Injury
16
Attorney Tracy Fischer
Attorney Tracy Fischer
Divorce, Family Law, Mediation
17
Attorney Damian Riddle
Attorney Damian Riddle
Criminal Defense, Family Law, Drunk Driving
18
Attorney David Rubin
Attorney David Rubin
Divorce, Personal Injury
19
Attorney Bill Keller
Attorney Bill Keller
Real Estate, Personal Injury
20
Attorney Ann Trehub
Attorney Ann Trehub
Personal Injury