How to Correct or Amend a Tax Return
If you recently filed a tax return but had any incorrect information on it (number of dependents, filing status, total income, deductions or credits), you will need to fill out an amended tax form, Form 1040X. Here are some tips to help with filing this form.
- You don’t need to file an amended return if you made a simple mathematical error. The IRS tends to fix this and sends out a letter notifying you of these changes. If you are missing a paper, the IRS usually sends out a request for the missing information, so you won’t need to file the Form 1040X.
- You cannot e-file an amended tax form. Regardless if you’re amending a 1040, 1040A, 1040NR, 1040EZ or 1040NR-EZ, you need to file your form 1040X through a paper submission that needs to be mailed into the IRS.
- If you have to file multiple amended tax returns, file and send each one separately. Never combine your amended tax returns for multiple years because the IRS will send it back and request you fill it out separately for their records.
- If you’re changing the tax forms or adding in more forms and documents, make sure to attach them to the Form 1040X to help expedite your amended returns.
- If you are expecting more money, wait until your original tax has been refunded to you before filing the amended tax file. You can cash in the original amount on the check and the IRS will send out the remaining balance after receiving your Form 1040X.
Expect processing times to take around 8 to 12 weeks to receive your refund for your amended tax form.
Image credit: 401(K) 2013
