I'm following most of this, however, I'm fairly certain you only have three years to revise a return. Also, I've done so several times and it's no fun. Finally, if the IRS decides you owe back taxes for taking a deduction they don't think you deserve ,the penalty is usurious.
I've always made it a policy to overpay taxes while we hashed out a solution. When I've prevailed, I've even gotten back interest.
-off IRS website-
Generally, to claim a refund, you must file Form 1040X within 3 years after the date you filed your original return or within 2 years after the date you paid the tax, whichever is later. Returns filed before the due date (without regard to extensions) are considered filed on the due date. Special rules apply for refund claims relating to net operating losses, foreign tax credits, bad debts, and other issues. For more information about amending a return, refer to the Form 1040X (PDF) and What If I Made a Mistake? in Chapter 1 of Publication 17, Your Federal Income Tax for Individuals.
Note: I have recently read from what I thought was a creditable site that you can go back as far a 8 years so I am sorta confused. But that is the Government is isn't it. Confusing. -Confused
