If I knew then what I know now....

PRLog (Press Release) – Jun 10, 2009 – If I knew then what I know now  is a phrase that all people at one time in their life have said or thought.  It reflects the increase in knowledge and wisdom that an individual has gained over time.  This knowledge and wisdom often comes from learning from a mistake or just learning as we get older and realize that the more we know, the more we realize we don’t know.
If I knew then what I know now is sacred as it signifies that as humans and highly intelligent beings, we can learn and we do have the ability to reconcile how our lives may be different if we made different choices.
The phrase holds true for everything, from decisions one makes involving love, work, finance and everything else imaginable.  It always leads to the thoughts of I would have or I should have, and although we can not change the past we can certainly use our knew found knowledge for decisions we make in the future.
Imagine, what if we could go back in time, if a person could change the outcome of something in the past with the knowledge they possess today?  What would that be worth?  I am certain that as you are reading this, a number of thoughts are passing through your mind as to how you’re knew decisions would have affected your life differently.
As individual’s we now realize that our decisions or lack there of have a direct impact on a particular outcome, we have embraced tools to help correct our errors.  Consider the introduction of “the instant replay” to professional sports.  Several football and Basketball games and even seasons may have had totally different outcomes had the use of this review technique not been implemented.  
We offer our own type of instant replay it is called a tax return modification.  The IRS allows taxpayers to amend their returns for a period of three years.  This modification can be used to add additional tax deductions and/or tax credits that a tax payer was entitled to but did not report.  The IRS tax code currently is 3.7 million words and it is not uncommon for tax professionals, and self preparing individuals alike to omit certain tax deductions that if included could have significantly changed the outcome of their tax return.

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Stanley Byck, a Certified Tax Professional and Accredited Tax Advisor and founding member of Tax Refund America, LLC states: Our firm reviews all of our new clients past three years tax returns and more often than not we find that clients are missing several important tax deductions or credits that they are entitled to. Our reviews and tax return modification program has led to as much as $15,000 in refund money for one client.