Can I Fix My Taxes After Filing? Here’s How

You can correct your tax return even after filing it. The Internal Revenue Service (IRS) provides a process for taxpayers to amend previously submitted information. This ensures accuracy and helps fulfill tax obligations. This article guides you through making these corrections.

Errors That Can Be Corrected

Many types of errors or omissions on an original tax return can necessitate an amendment. These include missing income, such as from an overlooked W-2 or 1099, or previously unreported investment income. Errors related to deductions or credits, like forgotten student loan interest, missed education credits, or miscalculated itemized deductions, can also be rectified.

Changes in personal circumstances, such as an incorrect filing status (e.g., Single instead of Head of Household) or modifications to claimed dependents, also require an amended return. While the IRS often corrects simple mathematical errors automatically, more complex errors impacting other calculations may still require an amendment. Receiving new tax documents, such as a corrected K-1, or other late tax forms after your original filing date, also triggers an amendment.

Generally, you have a specific timeframe to amend your return. To claim a refund, you must typically file an amended return within three years from the date you filed your original return, or within two years from the date you paid the tax, whichever date is later. If you filed your original return early, before the April deadline, the three-year period is counted from the April tax deadline.

Process for Correcting Your Return

To correct a previously filed individual income tax return, you will primarily use Form 1040-X, Amended U.S. Individual Income Tax Return. This form is available on the IRS website, and some tax software allows electronic preparation. Before you begin, gather your original tax return, any new or corrected tax forms, and supporting documents for the changes.

When completing Form 1040-X, you will see three columns for each line item: Column A for original amounts, Column B for the net change (increase or decrease), and Column C for corrected amounts. Enter figures from your original return in Column A, then calculate corrected amounts for Column C. Column B will show the difference.

Part III of Form 1040-X, the Explanation of Changes section, requires you to explain the reason for each amendment. For instance, you might write, “To include previously omitted W-2 income from Employer X” or “To claim the American Opportunity Tax Credit that was overlooked.” Providing a clear explanation helps the IRS understand the nature of your corrections. Attach any supporting documents, such as corrected W-2s or 1099s, or receipts for claimed deductions, to your amended return.

Once you complete Form 1040-X and attach all necessary documentation, sign and date the form. While some tax software allows electronic filing for recent tax years, many amended returns, especially for older years, still need to be mailed to the IRS. Refer to the Form 1040-X instructions or the IRS website for the correct mailing address for your state.

What Happens After Correction

After you submit your amended tax return, it generally takes longer for the IRS to process it compared to an original return. Processing times for amended returns can vary, typically ranging from 8 to 12 weeks, but they may take up to 16 weeks or longer in some cases. It is important to note that contacting the IRS by phone will generally not speed up the processing of your amended return, as representatives are often unable to provide status updates before the typical processing period has passed.

You can check the status of your amended return using the IRS’s “Where’s My Amended Return?” online tool. This tool typically provides status updates approximately three weeks after you submit your form. To use the tool, you will need your Social Security number, date of birth, and ZIP code. The tool will indicate if your return has been received, adjusted, or completed.

The outcome of your amended return can vary. If the amendment results in a refund, the IRS will issue it either through direct deposit, if you filed electronically and provided banking information for tax years 2021 and later, or as a paper check. If your amendment results in additional tax owed, the IRS will provide payment instructions. It is important to pay any additional tax promptly to avoid potential interest and penalties.

The IRS may also send correspondence requesting more information or confirming the changes made to your return. Regardless of the outcome, it is advisable to keep a copy of your filed amended return and all supporting documents for your records.