If you have already filed your individual or business income tax returns and discovered that you made a mistake, or you forgot to add a dependent, or your accountant or a tax advisor missed a tax deduction, or reported wrong taxable income, or you need to make any other adjustments to the taxes; you should file an amended tax return Form 1040X*.  Amending taxes is a complex issue and it’s recommended to seek professional tax help from an accountant, CPA or a tax advisor to help you with the tax changes or corrections.  Here are few important facts you should know about correcting your already filed personal taxes.

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If you are living and working abroad you may be entitled to the Foreign Earned Income Exclusion.  The foreign earned income exclusion is adjusted annually for inflation.  For 2009, you can exclude from the U.S. taxes the maximum annual amount of up to $91,400 per qualifying person.  The foreign exclusion is not a simple tax matter and it’s recommended to seek professional help from an accountant, CPA or a tax adviser.  You must have documentation that you can produce to evidence your qualification for the foreign earned income exclusion.  Here are few important facts that you should know:

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