Wednesday, April 13, 2011

What If You Make Tax Mistakes?

In this week's Money Made Easy, financial adviser Dan Danford answers a last-minute tax question:

"I'm always worried I'm doing the calculations wrong on my tax return because it's confusing to me. What should I do if I make a mistake on my taxes? Does it vary depending on the type of mistake I make?"

Danford, MBA, CRSP, of Family Investment Center, explains how the IRS treats inaccuracies on your taxes and what you need to do to correct any mistakes.

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