Amend return after accepting IRS's proposed changes?

Question

The IRS sent me a note proposing changes to my 2018 taxes, and asking me to pay them a few thousand dollars.
I accepted their changes and paid them.
I've now learned that their changes were wrong and I don't owe them. Is it too late to fix? I think I should file an amended tax return (the way I think it should be now, probably with an account's help) and they'll give my money back? Is that right?

Morrison Chang · Accepted Answer

From what I understand basis calculation on RSUs is the taxpayer's responsibility due to the non-standard reporting on W-2. Errors happen.
As your case seems to be an incorrect basis valuation, I would fill an amended return. Ideally when you got your initial notice you would have reviewed the numbers and filled a correction then.
You'll probably will have to document the correct basis valuation. The IRS is only interested in getting the taxes it is owed according to the tax code. You do have 3 years from when you originally filed or 2 years after when you paid the tax, whichever is later.
Depending on tax amount and time needed to prepare and file paperwork you may wish to have an accountant to assist.

Amend return after accepting IRS's proposed changes?

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