10 Tax Tips for Filing an Amended Return

10-tax-tips-for-filing-an-amended-return

1. When to use Form 1040-XYou can file Form 1040-X to amend a previously filed tax return that used one of these forms:

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You will be able to correct any mistakes, including:

Filing statusExemptionsIncomeDeductions or credits2. Not all mistakes require an amended returnYou do not need to file a 1040-X if your original return contains math errors or is simply missing forms, such as a W-2. The IRS will usually correct and notify you about math errors and will notify you if it’s missing any forms.

3. Amended return timingIf the correction results in you owing money, file as soon as possible so you can minimize any penalties or interest that might be incurred. Although the IRS appreciates when taxpayers file an amended return to correct a mistake, they can still assess a penalty or charge interest for not paying the proper amount when the taxes were originally due.

If the correction results in a tax refund and you haven’t received it yet, wait to file the amended return until after you’ve received it to avoid complications. But keep in mind that there is a time limit for filing an amended return resulting in a refund. You must file it within three years after you filed the original return, or within two years after you paid any tax due from that return—whichever is later.

4. Preparing an amended returnTo complete a Form 1040-X, you’ll need:

A copy of the original tax return that’s being amendedW-2sSchedulesWorksheetsCorrected information and calculationsAny forms needed to support correctionsScroll to Continue

However, you should not include the original return with the 1040-X.

Note: Beginning in 2020 you can file a 1040-X electronically but only for tax year 2019 and later. For earlier tax years an amended returns has to be filed on paper.

5. Stating the reason for the amended returnForm 1040-X, Part III, asks you to explain in your own words why you are amending the return. This explanation should describe the specific corrections you’re making and can be very brief. Reasons might include:

You forgot to claim the Child Tax Credit.You received another or corrected, W-2 form.You forgot to deduct a charitable donation.Maximize your deductions and get every tax break you qualify for when you file your taxes with TurboTax Deluxe. We’ll search over 350 tax deductions and credits to make sure you get the maximum refund possible. Start for free, and get up to an additional $10 off TurboTax Deluxe when you file. 

6. But now I owe moneyIf you owe money as a result of the correction, you should include a check or money order with your 1040-X submission. You can pay the balance you owe online, using Direct Pay or the Electronic Federal Tax Payment System (EFTPS). If you can’t pay right now, file the amended return and apply for an IRS Installment Plan.

7. Mailing instructions for paper-filed amended returnsEach tax return you are amending requires its own Form 1040-X mailed in a separate envelope. Mail the completed form to the appropriate address listed in the Form 1040-X instructions.

8. After you mail the 1040-XIt takes about 16 weeks for the IRS to process an amended return. You can check its status on the IRS website after three weeks, or by calling the automated toll-free number 866-464-2050.

9. Check the status of your amended returnUse the IRS’s new tool Where’s My Amended Return to check on the status of your Form 1040-X.

10. Amending your state tax returnAfter submitting Form 1040-X, check to see if your state tax form also needs to be amended. If so, obtain the proper form from your state’s tax agency and use the information on the federal 1040-X to help you fill it out. Be sure to attach a copy of your 1040-X to your state amended return.

Remember, with TurboTax, we’ll ask you simple questions about your life and help you fill out all the right tax forms. With TurboTax, you can be confident your taxes are done right, from simple to complex tax returns, no matter what your situation.


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