How Soon Can I Amend My Tax Return?

Taxpayers occasionally discover inaccuracies or omissions after submitting their federal income tax returns. Correcting these can be straightforward, but it requires understanding the proper procedures. Amending a tax return ensures that your financial information with the tax authorities is accurate and reflects your true tax liability or refund.

Understanding When an Amendment is Needed

There is no waiting period to amend a tax return once an error is identified. You can file an amendment even shortly after your original return has been submitted. However, it is generally advisable to wait until the Internal Revenue Service (IRS) has processed your original return to avoid potential confusion or delays. If an amendment is filed before the original return is fully processed, the two filings might cross paths, complicating the process.

An amendment is necessary for significant changes, such as correcting income that was misreported or omitted, adjusting your filing status, or modifying deductions and credits. For instance, if you receive a corrected wage and tax statement (Form W-2) or other income statements (Form 1099) after filing, an amendment would be appropriate. Similarly, an amendment is required if you need to add or remove a dependent, or if you discover you qualify for a tax credit or deduction you initially missed. However, minor errors like mathematical mistakes do not require an amendment, as the IRS typically corrects these automatically during processing.

Preparing Your Amended Tax Return

To correct a previously filed federal income tax return, individuals use Form 1040-X, Amended U.S. Individual Income Tax Return. This form is designed to capture the necessary adjustments without requiring you to completely redo your original tax submission. You will need a copy of your original tax return for the year you are amending, along with any new or corrected income statements, such as Forms W-2 or 1099, and documentation supporting any new deductions or credits you plan to claim.

Form 1040-X features three columns for entering figures: Column A is for the amounts as originally reported, Column B is for the net increase or decrease of each line item, and Column C displays the corrected amounts after considering the changes. It is important to clearly explain the reason for each change in Part III of the form, providing a concise yet specific explanation. Additionally, you must attach all relevant forms and schedules that support the changes being made, even if these forms were part of your original submission.

Submitting Your Amended Return and What to Expect

Once Form 1040-X is completed, the method of submission depends on the tax year being amended. For the current tax year and the two preceding tax years, amended returns can generally be e-filed, provided the original return was also e-filed. If e-filing is not an option for your situation or tax year, the amended return must be mailed to the IRS. The specific mailing address varies based on your state of residence, so it is important to consult the IRS instructions for Form 1040-X to determine the correct address.

Processing times for amended returns are typically longer than for original returns. The IRS generally advises allowing up to 16 weeks for processing. In some instances, processing could extend to 20 weeks or more, particularly if the return requires additional review. You can check the status of your amended return using the “Where’s My Amended Return?” online tool available on the IRS website. It usually takes about three weeks from the submission date for your return to appear in the system.

An amendment can result in either an additional refund or tax due. If the amendment leads to more tax owed, pay the additional amount by the original tax deadline to avoid potential penalties and interest. If filing after the original due date, do not include interest or penalties on the form; the IRS will calculate and bill these separately. If the amendment results in a refund, direct deposit may be an option for e-filed returns; otherwise, a paper check will be mailed.