Should I Amend My Tax Return?

Mistakes happen, even when it comes to tax returns. But do you know which mistakes require amending your tax return? 

If you’re questioning whether or not you should amend a tax return, or you know that you need to but aren’t sure where to start, don’t worry. We’re here to help. Check out these ABC’s of whether or not you should amend your tax return. 

When to Amend a Tax Return

The IRS states that taxpayers should amend a tax return to correct errors on their filing status, number of dependents, total income, and discrepencies of deductions or credits.

When NOT to Amend a Tax Return

You do not need to amend a tax return due to math errors, as the IRS will make these corrections for you. Taxpayers also do not need to amend a return if they forget a required form or schedule. If necessary, the IRS will send communication requesting the additional forms.

How to Amend a Tax Return

If you’ve determined that you do need to amend a tax return, you will need to use Form 1040X, and you must file using a paper form. The IRS does not allow for amended tax returns to be filed electronically. If you need to amend multiple tax returns, you must file a separate Form 1040X for each year that needs to be amended. 

Timeline for Amending a Tax Return

It’s important to note that it can take up to 3 weeks for your amended return to show up in the IRS system, and could take up to 16 weeks for your amended return to be processed. You can check the status of your amended return, three weeks after filing, by using this link or calling 866-464-2050.

To learn more about amending a tax return, click hereIf you need help amending a prior year tax return, contact us today. 

Five Stone Tax
by Five Stone Tax

Five Stone Tax is America’s trusted tax adviser, offering full-service tax solutions with the goal of making sure all of our clients pay the lowest amount of taxes legally possible. As the most effective tax representation company in America, our team consists of the best Property Tax Consultants, Tax Attorneys, Enrolled Agents, case managers, and administrators in the industry.

Subscribe to Our Blog!

Don’t miss out our filing tips & deadlines, global tax news and customer case studies

Give it a try—it only takes a click to unsubscribe.