BIR: Taxpayers may file amended returns to correct earlier filing

Taxpayers who seek to add information to or make other changes to income tax returns they already filed may file amended returns even after the filing deadline, provided that they have not yet been issued letters from the Bureau of Internal Revenue, a BIR official told GMA News Online. Regional Director Jonas Amora said the amended returns mode is allowed because the BIR is cognizant that some taxpayers may have discovered errors, omissions, or new information to added to their income tax declaration "Kung may hindi na-declare nang tama o may idadagdag, puedeng magbago ng return on the condition na hindi ka pa na-isyuhan ng letter of authority or letter notice of under-declaration," the BIR official said. Amora added that with the initial implementation of the new forms for income tax returns, it is possible that some may have made mistakes in filling out the forms. He estimated that about 80 percent of the ITR filers on the day of the deadline last Monday were businesses and the self-employed because those with purely compensation income or whose withholding taxes are equal to their tax due are considered to have filed their ITR through the substituted filing mode. "Kasi ang karamihan sa ating mga empleyado ay na-subject na sa tinatawag substituted filing kung saan yung kanilang withholding tax at tax due ay magtugma na…puedeng hindi na sila mag-file ng income tax return," Amora said. He added that new ITR forms provide for the optional declaration of passive income, but how long this optional status will be in effect, Amora said, will depend on what top management of the BIR will decide later on. Director Amora also explained that self-employed taxpayers and businesses may chose to avail of optional standard deductions if they prefer not to go through the tedious process of presenting receipts and other documents to account for every centavo they declare in their ITR. "Yung optional standard deduction ina-allow natin ‘yun para hindi na sila mag-claim ng itemized deduction. Puede mong i-claim ‘yun na wala kang kailangang isusuportang dokumento, libre ka sa substantiation requirements, samantalang yung itemized deduction kailangan bawat isang sentimo doon suportado ng resibo," the BIR official said. - ELR, GMA News