Can You Amend Your Taxes After Filing?

Taxpayers can correct errors or include overlooked information on a previously submitted federal income tax return. Amending a return ensures accuracy and compliance with tax regulations.

Reasons for Amending a Tax Return

Taxpayers may need to amend a previously filed return for several reasons, often related to income, deductions, or filing status. A common scenario involves discovering overlooked income, such as a forgotten W-2 or 1099 form, or receiving a corrected income statement after the initial filing. Similarly, taxpayers might realize they missed claiming eligible deductions or tax credits, which could include charitable contributions, education credits, or the child tax credit.

Another reason to amend is if the original filing status was incorrect. For example, if an individual filed as single but qualified for head of household, amending the return can adjust the tax liability. Incorrectly claiming dependents or making other mathematical errors that affect the tax calculation also necessitate an amendment. It is worth noting that minor mathematical errors are often corrected by the IRS, so an amendment is not always needed for such adjustments.

Understanding the Amendment Process and Forms

The primary form used for amending a U.S. individual income tax return is Form 1040-X, Amended U.S. Individual Income Tax Return. Before beginning to complete Form 1040-X, it is important to gather specific documents. These include a copy of the original tax return for the year being amended, any new or corrected income statements (such as W-2s or 1099s), and documentation to support any new deductions or credits being claimed.

Form 1040-X features three columns for entering financial figures. Column A displays the amounts as originally reported or as previously adjusted. Column B is for the net increase or decrease for each line item, reflecting the difference between the original and corrected amounts. Column C then shows the corrected amounts, which are the result of combining the figures from Column A and Column B.

Additionally, Part III of the form requires a clear and concise “Explanation of Changes,” where the taxpayer details the specific reasons for the amendments. Taxpayers can obtain Form 1040-X and its instructions directly from the IRS website, which provides comprehensive guidance on completing the form.

Filing Your Amended Return

Once Form 1040-X is accurately completed, the next step involves submitting it to the IRS. For most tax years, especially 2019 and later, Form 1040-X can be filed electronically using tax software, provided the original return was also e-filed. However, paper filing remains an option and is necessary for amending returns from 2018 and prior years.

When mailing a paper Form 1040-X, it is important to send it to the correct IRS address, which varies depending on the taxpayer’s state of residence and whether a payment is enclosed. The IRS provides specific mailing addresses in the instructions for Form 1040-X.

It is also recommended to include copies of all forms and schedules that were part of the original return, along with any new supporting documents.

There are specific timeframes for filing an amended return. Generally, a taxpayer has three years from the date the original return was filed or two years from the date the tax was paid, whichever date is later, to file an amended return and claim a refund. If the original return was filed early, the three-year period typically begins from the original tax deadline.

If an additional tax is owed, it is advisable to pay this amount as soon as possible to minimize potential penalties and interest. Payments can often be made online or by mail, accompanying the amended return. If a refund is expected, the IRS will issue it after processing the amended return.

What to Expect After Amending

After submitting an amended tax return, the processing time is longer than for an original return. Taxpayers should allow 8 to 12 weeks for Form 1040-X to be processed, though it could take up to 16 weeks or more. The IRS provides an online tool called “Where’s My Amended Return?” that allows taxpayers to check the status of their amended return. This tool provides status updates approximately three weeks after the return is submitted and can track the status for the current tax year and up to three prior tax years.

Taxpayers may receive various communications from the IRS during this period. These could include an acknowledgment that the amended return was received, a request for additional information or documentation, or a notice of adjustment. It might result in a refund check being issued, a bill for additional tax due, or a notice indicating that no change was made to the tax liability. Throughout this process, it is important for taxpayers to keep copies of all submitted forms and supporting documentation for their records.