IRS news.

Report: IRS Should Modernize Process of Filing Amended Tax Returns

The IRS shouldrevise Form 1040, U.S. Individual Income Tax Return, to allow for corrections to original tax return filings and expand e-filing to include amended tax returns, according to a new report (www.calcpa.org/IRSmodernizationReport) released by the Treasury Inspector General for Tax Administration (TIGTA).

TIGTA found that the IRS could reduce erroneous refunds, processing costs and taxpayer burden by revising the Form 1040 to allow for corrections to original tax return filings and expand e-filing to include amended tax returns. TIGTAs review of a statistical sample of 259 amended tax returns claiming tax refunds of...