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Payments, penalties, amended returns and spouse relief

SEE 1 Chapter 21 · IRS outline 1A11, 4A3, 5A7, 5A8, 5A9, 5A10, 5A14, 5A15

The tax is only half the story; the other half is how and when it's paid. Daniel's switch to self-employment means estimated payments; Lily filed late and owes penalties; Hank found a missed deduction from 2022; the Okafors' refund was seized for Grace's old student loan; and a client discovers her ex-husband hid income on their joint return. Nadia's tools here are Forms 1040-ES, 2210, 1040-X, 843, 8379 and 8857, and a calendar.

In this chapter

1. Payments and refundable credits
2. Estimated tax and the underpayment penalty
3. Penalties for filing and paying late, accuracy penalties and interest
4. Amended returns, refund claims and penalties of perjury
5. Carryovers that affect past and future returns
6. Injured spouse relief
7. Innocent spouse relief

This chapter has 7 lessons and 74 practice MCQs with explanations, plus flashcards and a recall sheet.

What this chapter covers

• Withholding and estimated tax
• underpayment penalty and interest
• carryovers
• injured and innocent spouse
• refund claims and amended returns
• penalties of perjury

Chapter 20: Computing the tax: AMT, NIIT and other taxes · Chapter 22: Advising the individual taxpayer