$1 Million Tax Audit Protection 

Amended Tax Returns, AccountantBookkeeper in West Jordan, UT

Should you file an amended tax return?

Whether you already filed your yearly tax returns on time or perhaps after the tax deadline-- there is still a chance that you might receive information that was not included or you discover something that was missed such as a signifigant deduction. In this case, you may consider filing an amended tax return.

Do I have to file an amended return if I discover an error or receive new information?

There is no actual requirement to file an amended return and no penalty if you don't, even if you discover an error or deductions were not counted properly (such as state taxes, mortgage interest, or a sizable charity contributions). Filing is not required even if new information comes to light (such as receiving a revised 1099 or K-1)-- although in the latter case, the IRS recommends you do amend. Worthless securities and bad debts also may merit an amendment -- and taxpayers have up to seven years to go back and claim those losses.

Is it worth the time and costs to amend my return?

Determining if amending your return(s) is actually worth your time and money vs the reward it can potentially return is something a tax professional such as Paramount Tax & Accounting West Jordan can help you best understand. Our amended tax return specialists in West Jordan can investigate returns as far back as 3 years to find any errors or missed deductions. We can then calculate if you can expect just a meager increase in your refund or if the increase in your refund is potentially larger. By estimating how much your increase will be ahead of filing the amended return, you can decide if the investment in time and money is worth the increase!

What to consider if you amend your return(s)

Consider that if you decide to amend, you can't just correct the items that will give you a refund and neglect those that increase your tax liability. An amended return is more likely to be audited than an original return in general, and every tax return is filed under penalty of perjury, so amending just partial pieces and parts of a tax return could get you into serious trouble. This is why you should always trust a tax advisor to prepare and file your amendments.

If your amended return results in asking for considerable money back, the IRS may review it even more carefully, although you can always choose to apply all or part of the expected refund to your current year's tax instead of asking for cash back.

It's worth noting that amended returns are only filed on paper via Form 1040X even if you filed your original return electronically and whether you previously filed Form 1040, 1040A, or 1040EZ. If you are amending more than one tax return (i.e. for different years), you will need to prepare a separate 1040X for each return.

Timing an Amended Tax Return

Timing counts when it comes to amending a tax return, and there is a select timeframe available. It's commonly stated that you must amend within three years of your original return filing. However, the cutoff is actually three years from the date you filed your original return or two years from the date you paid the tax for the return you wish to amend, whichever is later.

The IRS typically has three years to audit a tax return. Even if you file an amended return, the three-year statute of limitations does not get extended. The amount of time left on the three-year window when you amend can be used to your advantage to assuage the worry of an audit. However, if it shows that you owe more, you will owe additional interest calculated from the due date of the original return (without regard to extensions) and probably penalties as well.

Possible Reasons NOT to Amend

  • It's important to first ask yourself whether the tax return you filed was accurate to the best of your knowledge when you filed it. If so, it's an okay bet to decide not to file an amended return.
  • If you simply discover a math error in your calculations, the IRS says there is no need to file an amended return. Their computers or paper-file reviewers will catch the error and correct any amount owed or due to you.
  • If you forgot to attach certain paperwork to your return, such as a W-2, 1099, or schedules to show your work for different areas of the return, the IRS will likely be able to process your return without it or will send you a letter requesting the missing information.

Contact our accountingbookkeeping firm in West Jordan for a free Amended Tax Return consultation!

Amended Tax Return West Jordan

Free amended return review

Timing, accuracy, and necessity are key factors when it comes to amending a tax return. If you need assistance deciding whether or not to file an amended return, or if you would like help filling out Form 1040X to ensure that it is complete and error free, a Paramount tax advisor in West Jordan can assist you from start to finish.

Contact Us Today!

Easy Online Booking

Get started with Paramount for your tax services in West Jordan, UT, recommended by family and friends every time.


Request Appointment

Contact Paramount Tax & Accounting West Jordan

Easy Online Booking

Get started with Paramount for your tax services in West Jordan, UT, recommended by family and friends every time.


Request Appointment

Contact Paramount Tax & Accounting West Jordan
Request Appointment
Jenny has been great to work with and helps you by answering all your questions during the whole process of the dreaded tax filing season.
— Lisa Montoya, Posted May 17th 2024 on google
First time using paramount and had a great experience. Very informative and helpful through out the process. Would highly recommend.
— Brian Davies, Posted May 2nd 2024 on google
Very knowledgeable and helpful with our taxes
— Jamie Christensen, Posted May 1st 2024 on google
Love Jenny. She is the best.. I finally met her in person after her doing my taxes for a few years. She’s very knowledgeable,friendly & personable. I feel very confident with her doing my Taxes. THE BEST!
— Shelly Malohifo'ou, Posted April 30th 2024 on google
Jenny is very nice, makes you feel at ease, knows her job. I will go again!
— Jennifer Chase, Posted July 15th 2023 on google
Best tax place hands down!🙌🏾🙌🏾
— T Tooala, Posted April 17th 2023 on google
Paramount makes fine taxes quite easy I’m not all that expensive. You just upload all your documents into their portal, show up for your appointment, and boom! It’s all done!
— Iryna Hall, Posted April 10th 2024 on google
Jenny makes filing my taxes so easy! She files my personal and business taxes, and has answers to all of my questions. This is my 3rd year using her services and I will definitely stay a loyal client.
— Julie Martin, Posted April 4th 2023 on google
Jenny and her team are fantastic! They are knowledgeable, thorough and fast! They take the time to explain the process in Laymans terms. They helped me get my back taxes back on track and filed and help me maximize my returns. I highly recommend Jenny at Paramount tax!
— Jesse McLeod, Posted February 22nd 2023 on google
After I turned in all the paperwork, they did a great job of explaining the tax process and helping me find every deduction that was possible.
— Doug Mellars, Posted April 4th 2023 on google
We love coming to Paramount tax & Accounting in West Jordan. It is always great working with Jenny. Definitely recommend getting your taxes done here.
— Carlene Kolling, Posted April 8th 2024 on google
She made paying taxes painless and a pleasant experience. I would recommend her.
— LeAnn Hill, Posted April 14th 2022 on google
Jenny and her team are the best ever. I love their professionalism, knowledge and passion towards their clients. Our family’s lives have been blessed since Jenny and Paramount Tax & Accounting started to file our taxes. Keep up the great work and thank you for caring even though it’s a business.
— Taumafai Sosi, Posted April 3rd 2024 on google
Jenny was so helpful and patient with me!! It was an easy process! She was so amazing! I highly recommend!
— Tina Pham, Posted April 3rd 2024 on google
Have been a customer of Paramount Tax for more than 5 years. Excellent service and very knowledgeable. Highly recommend.
— Jim Oliphant, Posted April 3rd 2024 on google
Jenny and her team are excellent! They are thorough, professional, and easy to work with. They communicate well and offer top notch service. I highly recommend Paramount for all your tax and accounting needs.
— Kira Larsen, Posted March 28th 2024 on google
Jenny makes doing taxes quick and painless. I’ve been going to her for the last few years and really appreciate the guidance she gives us.
— Brynn Davis, Posted April 10th 2023 on google
Always knowledgeable and helpfull. Does an excellent job at finding those certain things that will help save me money. Jenny does an outstanding job and is always pleasurable and efficient. She does my complicated taxes in 30 min so it saves me time. Thank you
— Taylor Gronlund, Posted April 18th 2023 on google
This is our 3rd year filing with Paramount. Jenny has always been so helpful and patient with us. They’ve helped eliminate the stress from filing our taxes.
— Cheyenne Holt, Posted April 8th 2022 on google
Jenny is the best!! Highly recommend Paramount Tax & Accounting!
— Jonesmoto, Posted March 22nd 2024 on google
West Jordan, UT Tax Review

Free 3-Year Tax Review

We review 3 years back to find errors / missed deductions.

About Us Contact Us

Paramount Experience

Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting West Jordan, is that our firm utilizes the services of licensed professionals.

Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 firm in West Jordan. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting West Jordan!

Free Consultation 801-899-3350

Upgrade to Tax & AccountingBookkeeping Firm

Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting West Jordan a call or visit our tax and accountingbookkeeping firm in West Jordan for a free consultation.

Individual Tax Preparation Business Tax Preparation

Why Choose Paramount Tax & Accounting West Jordan?

West Jordan, UT Tax Services

Through dedication to the three underlying principles of professionalism, responsiveness and quality, Paramount is committed to providing outstanding service to our clients.

tax &accounting franchise

Paramount Tax is now offering financial and tax franchises across the US!

Let us make our success into your success!

Franchise Information Call: 801-784-6677