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9 Tax Tips for Filing an Amended Tax Return

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Tax Assistance Group
Tax Assistance Group

If you made a mistake on your tax return, dont panic! You can file an amended return if you need to fix an error or even if you forgot to claim a tax credit or deduction. Here are ten tips from the IRS if you need to amend your tax return.

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If you made a mistake on your tax return, dont panic! You can file an amended return if you need to fix an error or even if you forgot to claim a tax credit or deduction. Here are ten tips from the IRS if you need to amend your tax return. 9 Tax Tips for Filing an Amended Tax Return
When You Need to Amend You need to amend your tax return if you need to correct your filing status, the number of dependents you claimed, or your total income. Your tax return can also be amended to claim tax deductions or tax credits that you did not claim when you filed your original return.
When You Dont Need to Amend In some particular cases, you dont need to amend your tax return. The IRS usually corrects calculation errors when processing your original return. If you didnt include a required form or schedule, the IRS will send you a notice via U.S. mail about the missing item.
When to Use Form 1040X Use Form 1040X to amend your federal income tax return that youve already filed. Make sure that you check the box at the top of the form that shows which year you are amending. You need to file your Form 1040X on paper and mail it to the IRS. You cant e-file Form 1040X.
If Filling Amendment More than a Year If you file an amended return for more than one year, use a separate 1040X for every financial year. Mail your return to the IRS in separate envelopes. See "Where to File" in the instructions for Form 1040X for the address you should use.
For other Forms or Schedules If your changes affect other tax forms or schedules, dont forget to attach them to your Form 1040X when filing. If you dont, it will cause a delay in processing.
Amending to Claim an Additional Refund If waiting for a refund from your original tax return, dont file amended return until you receive the refund. You may cash the refund check from your original return. Note that amended returns can take up to 16 weeks to process. You will receive any additional refund you are owed.
Amending to Pay Additional Tax If youre filing an amended tax return because you owe more tax, you should file Form 1040X and pay the tax as soon as possible. This will limit interest and penalty charges.
When To File an Amended Return To claim a refund, file Form 1040X no more than three years from the date original tax return was due. You can also file it no more than two years from the date you paid the tax, if that date is later than the three-year rule.
Track your return You can track the status of your amended tax return three weeks after you file with Wheres My Amended Return? on IRS.gov website or by phone at 866- 464-2050.
To Learn More Visit www.taxassistancegroup.org Or Call (855) 549-7829 Source: IRS Summertime Tax Tip 2015-26, August 31, 2015. www.irs.gov/uac/Top-10-Tax-Tips-about-Filing-an- Amended-Tax-Return

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9 Tax Tips for Filing an Amended Tax Return

  • 1. If you made a mistake on your tax return, dont panic! You can file an amended return if you need to fix an error or even if you forgot to claim a tax credit or deduction. Here are ten tips from the IRS if you need to amend your tax return. 9 Tax Tips for Filing an Amended Tax Return
  • 2. When You Need to Amend You need to amend your tax return if you need to correct your filing status, the number of dependents you claimed, or your total income. Your tax return can also be amended to claim tax deductions or tax credits that you did not claim when you filed your original return.
  • 3. When You Dont Need to Amend In some particular cases, you dont need to amend your tax return. The IRS usually corrects calculation errors when processing your original return. If you didnt include a required form or schedule, the IRS will send you a notice via U.S. mail about the missing item.
  • 4. When to Use Form 1040X Use Form 1040X to amend your federal income tax return that youve already filed. Make sure that you check the box at the top of the form that shows which year you are amending. You need to file your Form 1040X on paper and mail it to the IRS. You cant e-file Form 1040X.
  • 5. If Filling Amendment More than a Year If you file an amended return for more than one year, use a separate 1040X for every financial year. Mail your return to the IRS in separate envelopes. See "Where to File" in the instructions for Form 1040X for the address you should use.
  • 6. For other Forms or Schedules If your changes affect other tax forms or schedules, dont forget to attach them to your Form 1040X when filing. If you dont, it will cause a delay in processing.
  • 7. Amending to Claim an Additional Refund If waiting for a refund from your original tax return, dont file amended return until you receive the refund. You may cash the refund check from your original return. Note that amended returns can take up to 16 weeks to process. You will receive any additional refund you are owed.
  • 8. Amending to Pay Additional Tax If youre filing an amended tax return because you owe more tax, you should file Form 1040X and pay the tax as soon as possible. This will limit interest and penalty charges.
  • 9. When To File an Amended Return To claim a refund, file Form 1040X no more than three years from the date original tax return was due. You can also file it no more than two years from the date you paid the tax, if that date is later than the three-year rule.
  • 10. Track your return You can track the status of your amended tax return three weeks after you file with Wheres My Amended Return? on IRS.gov website or by phone at 866- 464-2050.
  • 11. To Learn More Visit www.taxassistancegroup.org Or Call (855) 549-7829 Source: IRS Summertime Tax Tip 2015-26, August 31, 2015. www.irs.gov/uac/Top-10-Tax-Tips-about-Filing-an- Amended-Tax-Return