As careful as you are with your tax return, it can happen. The IRS even has a special form for correcting your work.
Maybe you were digging through some files and found it: the form you forget to include on your already-filed tax return. Or someone mentioned a mistake they’d made on theirs, and it made you realize you’d done the same thing. Or worst of all, you got a letter from the IRS calling your attention to an error you made.
It’s possible that you could avoid filing an amended return. The IRS is only concerned if the error or omission relates to your filing status, income, deductions, credits, dependent, or tax liability. You also don’t have to file an amended return if the IRS lets you know that it corrected errors on your return or if it accepted your return with certain forms or schedules missing. The agency may also just ask you to send them again.
How Long Do You Have to File An Amended Return?You should file a Form 1040-X only after you’ve filed the original return. As far as how long you have to file it, here’s the general rule of thumb: For a credit or refund, you need to file this form within three years (including extensions) after the date you filed your original return OR within two years after the date you paid the tax, whichever is later.
What Is the Form 1040-X?The Form 1040-X looks something like the Form 1040, but it’s not as comprehensive. You can explain why you’re filing an amended return in the space provided and attach any related documents.
The Form 1040-X is similar to the Form 1040, but it’s not as detailed.
You’ll usually enter information on the Form 1040-X in three columns, as pictured above. The first should contain your original figure. The second is for the amount by which it should increase or decrease, and the third contains the new amount you’re claiming.
Other sections of the 1040-X include Tax Liability, Payments, Refund or Amount You Owe, Dependents, and Explanation of Changes. Be sure to keep a copy of the form for your records and sign the form before submitting. That’s one of the most common reasons 1040s get rejected.
How do you file a Form 1040-X?You can file on paper, of course. In fact, you’re required to do so if you filed on paper for a previous year. It’s also required for tax years prior to 2022.
But you can also file using some of the tax software products available. If you’re amending a Form 1040, 1040-SR or 1040-NR return, you must submit all necessary forms and schedules as if it were the original submission, even if some forms have no adjustments. This is in addition of course, to an attached Form 1040-X. You can file up to three amended returns in one year.
If you file electronically, you must also complete and submit Form 8879, IRS e-file Signature Authorization. You can find a copy
here.
If you file an amended return electronically, be sure to complete and send a Form 8879 with it.
Does the IRS support direct deposit for refunds based on amended returns?Yes, now it does. If you amend a return for tax years 2021 and later, you can request your refund by direct deposit. The IRS will deposit into either a checking or savings account. If you submitted a paper version of Form 1040-X, you'll receive a paper check.
How can you check the status of an amended return?You can check on it
here.
How Do You Avoid Having to File An Amended Return?You might think that the biggest problems the IRS finds with tax returns involve complex topics and calculations. The agency certainly deals with its share of those, but some of the most common errors they find are easily avoided. Some people sweat their tax returns, spending hours or days making sure that everything it correct, and then they fail to sign the return. Here are some of the other most common errors and omissions the IRS finds:
- Social Security numbers that are wrong – or just not there,
- Names that don’t match what’s on your Social Security card,
- Sending your return in early,
- Incorrect bank account numbers,
- The wrong filing status, and,
- Entering incorrect information from tax documents.
The Form 1040-X is a short but complicated form that requires precision. You may need our help completing it, because the last thing you want to have to do is amend an amended return. If you’re really struggling with your income tax preparation, consider asking us for assistance throughout the year, as you do your early tax projections and planning. If you’re not doing that, we can help. We can also take over your preparation duties once tax filing time rolls around.