Did you take the wrong step with your tax return? Don’t be too hard on yourself.
Mistakes happen. If you filed your tax return with incorrect or missing information, the IRS will give you a chance to fix your mishap. Before insisting you 100% need to amend your return, though, take a look at our list of when you should, when you shouldn’t, and other need-to-know info about doing so.
What it is and where to file
1. Another name for an amended tax return is 1040X.
2. If you are amending multiple tax returns at once, you will need a prepared 1040X for each one. They will also need to be mailed in separate envelopes to the IRS.
3. You can prepare your amended tax return with PriorTax whether you filed your original return with us or a different tax preparer.
4. The address to mail your amended tax return is located here.
Fixing Information VS. Adding Additional Information
5. You don’t need to file an amended return for calculation mistakes. The IRS has calculators of their own which will update the information automatically on your return.
6. Typically, you’ll only need to file an amended return to update your filing status, income, deductions, credits, or if you forgot to include a part of your tax situation all together (ie: a dependent child).
7. If your amended tax return includes information from an additional form or schedule, you will need to attach that document to the return you mail to the IRS.
8. If you included W-2 or other schedule information on your original tax return but forgot to mail in copies of the forms, you do not need to amend your tax return. If the IRS needs them, they will contact you.
9. If you made a mistake on your amended tax return and already mailed it to the IRS, you can prepare another amended tax return. However, you should wait until the first amended return is processed before mailing the second.
Paper-file or E-file?
10. An amended tax return cannot be e-filed. It must be paper filed.
11. Although it must be paper filed, you can still prepare it online with PriorTax. You will just need to print, sign and mail it to the IRS.
Current tax years VS. Prior tax years
12. Generally speaking, the IRS allows you to file your amended tax return within three years from when you filed your original OR two years from when you paid off what you owed the IRS. This goes for prior years too.
13. With PriorTax, we’ll assist you in preparing your current year or prior year amended tax return.
Expecting a refund or tax due?
14. If you are filing an amended return and expecting a refund by doing so, you should hold off filing the amended return until you receive your original tax refund. You can cash your original refund check while waiting for the amended return to process.
15. If you file an amended tax return and accrue a tax amount due, penalties and interest can still build up. You should pay this balance as soon as possible as you would with your original tax return (Form 1040).
How to check the status of your amended tax return
16. The normal processing time for amended returns is up to 12 weeks.
17. You can check the status of your amended tax return three weeks after the IRS receives it.
18. To track your return online, you can use the IRS tool, “Where’s My Amended Return?”. You should know your social security number, date of birth and home zip code before using this.
19. You can also call 866-464-2050 to use the IRS automated tool by telephone. Have your social security number, date of birth and home zip code on hand before calling.
20. Amended tax returns can be tracked for the current year and up to three prior years. For further dated prior years, you can try contacting the IRS and speaking with a representative.
More questions about amending your tax return?
There you have it; answers to your questions about amending your tax return. If you are still confused, reach out to the PriorTax support team. We’ll help out in any way we can.