For >$50 difference, no new 8879 needed?

[Margaret CPA in OH]

I sort of recall that if the tax change on the federal return is less than $50, no change is needed. I hope that is correct. In reviewing a return for a 92 year old client, really pretty sharp still!, I realized that I had a transposition error on the Qualified Dividends. When I got back from the nursing home and changed it, the tax difference is $46. I really don't want to take the 2 hours+ to go back, explain and have him sign again.

Someone please confirm my memory or smack me upside the head (gently) for making such a stupid error.

[David1980]

Federal AGI $50 or federal tax $14. Sounds like your change is more than $14 tax so you'll need a new 8879.

Taxpayers must sign a new declaration if the electronic return data on individual

income tax returns is changed after taxpayers signed the Declaration of Taxpayer

and the amounts differ by more than either $50 to “Total income” or “AGI,” or $14

to “Total tax,” “Federal income tax withheld,” “Refund,” or “Amount you owe.”

[Margaret CPA in OH]

Curses! But thanks - see self kick in the butt here... I recalled $50 but not in the right place.

[Yardley CPA]

I believe you are right, Margaret. Here is an excerpt from an IRS article:

Taxpayers must sign a new declaration if the electronic return data on individual income tax returns is changed after taxpayers signed the Declaration of Taxpayer and the amounts differ by more than either $50 to "Total income" or "AGI," or $14 to "Total tax," "Federal income tax withheld," "Refund" or "Amount you owe."'

Here's the link tot he article:

http://www.irs.gov/uac/Signing-an-Electronic-Tax-Return

[SCL]

hey joe...

I'm on my way...way down south to mexico.

I could even be a bit more than over...+$50 inc &/or $14 tax, LOL!!!!

.