Tag: amended tax return

Posts Tagged ‘amended tax return’

Do I Need Tax Return Amendment?

Posted by admin on July 27, 2023
Last modified: July 28, 2023

You’ve noticed errors or exclusions made on the tax return? It’s possible to do tax return amendment after submitting your original tax filing. Normally, the IRS would catch any mistakes during processing, but in certain scenarios, you may need to file a tax amended return in order to make corrections or make other modifications to the tax return itself.

This year, some of the changes to tax laws set by Congress apply to previous years’ taxes. This raises the question of whether you should go ahead and file an amended tax return or not. Understanding how to redo your taxes is key in determining which option is best for you.

tax return amendment

Do You Need to Revise Your Taxes This Year?

Have you ever submitted your tax return and discovered you’d made a mistake or learned new information that would alter the outcome? You may have asked yourself, is it possible to redo my taxes?

With the enactment of numerous new tax rules for 2018, it is important to consider whether it could be beneficial for you to submit an Tax Return Amendment. Many of us have confronted this issue before. To clarify matters, here’s a guide on filing an amended tax return and the benefits it could bring.

It is important to file an amended return in certain scenarios. This includes when corrections or omissions are needed to your income, a change of filing status, modifications to deductions, and the desire to apply for or adjust a tax credit.

Taking the time to submit an amended return can be a worthwhile effort. It ensures your tax return is up-to-date, enabling you to get the most out of any potential refund or lower what you owe. Moreover, it will reduce the chances of drawing attention from the IRS in the form of audit notices.

A Few Tax Return Amendment Scenarios

Scenario 1. You filed your taxes and then received another W-2 or other income statement.

In some cases, after you have already submitted your tax return, a new income statement could appear. This could include a W-2 from a job held only for a short period of time or even an interest statement from an account you had completely forgotten about. Even though the amount on the form may be small, it can still influence how much you owe in taxes.

Before filing your taxes, you must report all of your income for that year in accordance with IRS regulations. One way to do this is to amend your tax return, and it’s important to ensure you have received all necessary documents first. To comply with legal requirements, employers and businesses must send out all income statements such as W-2s or 1099-MISC by January 31st of each year.

Scenario 2. You missed claiming a credit or deduction you were eligible to receive

Forgetting to claim a credit or deduction can be costly when it comes to taxes. Even though you have the ability to take advantage of various credits and deductions that could lower your bill, not claiming them might mean losing out on money. It’s possible to file an amended return in order to get those dollars back.

When you have paid college tuition during the tax year, there are two credits that could potentially be claimed: the American opportunity tax credit and the lifetime learning credit. Filing your 1040 is not enough, though – an amendment needs to be filed in order to claim educational credits.

Major Tax Breaks from Tax Reform

Tax Reform Aids Taxpayers with Tax Breaks

Taxes on any income and gains must be paid as part of the taxation system. Consequently, in order to incentivize certain activities that are beneficial for society, Congress has implemented tax breaks which can lessen the overall duty a taxpayer is obliged to pay. Therefore, it is highly recommendable to get an up-to-date understanding of all changes, credits, and extensions prior to submitting an Amended Tax Return form.

How To File a Tax Return Amendment

Need to make some adjustments? Filing an amended return is the way to go. To get started, you’ll fill out Form 1040-X, Tax Return Amendment, and attach any corrections or additional documents that weren’t included with your original return. Doing so will bring your filing up-to-date with accurate tax information. Changes to federal returns filed in 2019 and later can be done electronically.

As laid out by IRS regulations, you have up to three years from when your original tax return was submitted to submit an amended return with a claim for tax refund. Additionally, two years is also allowed for filing after outstanding tax has been paid. It should be noted that any returns sent prior to its due date (with or without extensions) are considered as having been filed on that day. Furthermore, withholding taxes from sources such as a W-2 is counted as payment towards taxes on their due date.

Since the implementation of tax reform, it is crucial to address any issues that have arisen as a result. Filing an amended return is the best way to rectify mistakes and fix oversights. Therefore, it is essential to act promptly in order to set yourself up for success in the future.


In order for adjustments or corrections of a previously filed tax return, the appropriate form is Form 1040-X: Amended Tax Return. This must be accompanied by any documents that were not included in the original submission. Since 2019, amended federal tax returns can also be lodged electronically.

In the event of an oversight or mistake on your original submission, filing an amended tax return can be a wise move. This will allow for revision in terms of income declared, filing status, deductions taken, and claiming/correcting any tax credits owed. According to the IRS rules, however, anyone wishing to claim a refund must submit their amended return within three years from when they originally filed the return – OR – two years from when they settled their outstanding taxes (whichever is later).

Get your taxes done efficiently and accurately with a free PriorTax Dedicated Tax Professional. Whether you prefer having an expert guide you through the process from start to finish or taking advantage of the easy-to-use tool for self-filers, you can trust that PriorTax will guarantee your maximum refund. With our help, filing your taxes can be a breeze – answer straightforward questions, and we’ll ensure everything is taken care of so that you can rest assured knowing it’s been done right.

Fix your Tax Returns to Make Sure Your Federal Tax Return is Accurate

Posted by admin on May 25, 2023
Last modified: May 25, 2023

It’s not unheard of for additional information to arrive after you’ve already filed your taxes. This can be something like overlooked credits or tax form 1099 arriving too late in the season. Fortunately, the IRS has created an easy way to fix your tax return by amending it.

It can be difficult to ensure your tax return is accurate and complete. To help with this, it’s important to gather all necessary documents such as W-2s, 1099s, receipts, etc. Thus you can be sure that all the relevant data are input into the right schedules and forms before submitting.

How can you fix your tax return?

First, beginning the tax season can be daunting; however, getting ready is made much simpler by taking a few steps. Firstly, it’s important to assemble all your new paperwork. This includes any receipts for deductions and credits you are claiming, such as 1099s or W-2 forms that may have been missed initially. It never hurts to keep a copy of your previous year’s return handy too!

fix tax return

Second, once you have completed the first stage, forming 1040-X is your next task. From 2019 onwards, fixed federal tax returns can be submitted electronically as long as the initial one was sent this way. Those who filed theirs with TurboTax should log onto their account and pick out the tax return needing amendment; then, they must adhere to the onscreen directions.

The third and final task is determining what alteration needs to occur. To be able to accurately adjust the mistakes on your original tax return, you must get an unaltered copy of the same form from that year. With this in hand, you can modify those numbers which were impacted by making amendments – thus recalculating your taxes.

In preparing to fix your tax return’s fourth and final stage, grab any new schedules or documents you need to make changes. Unlike submitting a full tax return, only figures that have changed should be updated with the IRS; there’s no need to start from scratch again. However, in the event that any of your original filings will be subject to alteration due to an amendment, it is necessary to re-submit those schedules together with your Form 1040-X. Fortunately, Prior Tax can provide assistance in this process – a team of dedicated tax professionals are there to help you revise the required forms with ease.

To complete the process, you must fill out Form 1040-X. It is vital to explain precisely why you are filing this form. Furthermore, should you file the return on paper, be sure to attach any related documents supporting your cause and mail them off according to the instructions on Form 1040? When submitting an amended tax return, make sure to send it to the IRS service center, which handles your first filing. In addition, you must include payment for any extra taxes due; otherwise, the IRS may impose interest and penalties on the remaining amount.

Using PriorTax to fix your tax returns

At Prior Tax, we understand that the process of amending a return can be complicated. To fix your tax and file for tax amendment.

Don’t worry about filing taxes on your own – Prior Tax has got you covered! With Live Full Service, an expert will take care of everything, start to finish. Take advantage of Dedicated Tax Professionals for the right answers and a maximum refund guarantee. Or opt for confidence-building tax filing with Prior Tax easy filing process or with the help of our dedicated tax professionals. Whichever way you go, get a guaranteed maximum refund from Prior Tax.

How to Prepare Amended Tax Return

Posted by admin on May 11, 2023
Last modified: May 9, 2023

Need to Fix a Mistake on Your Tax Return? Here’s What You Need to Know

Amending your tax return is simple – all you need to do is e-file an amended tax return with Prior Tax. It requires just a few steps, but it can make all the difference in getting the credits and deductions you deserve.

Correcting errors and amending your tax return can be done using Form 1040-X. This form can help you report changes such as correcting your filing status, including or removing a dependent, claiming deductions or credits that were missed or even adding income that was forgotten. However, it is important to note this form should not be used for any clerical errors; these will automatically be corrected by the IRS.

Normally, it’s necessary to submit an amended return no later than three years after the original submission deadline. However, this could be extended to two years from the payment of taxes for that particular year, should that fall at a more recent date.

how to prepared amended tax return

Did you know that it’s possible to make corrections on prior tax return? 

The IRS allows taxpayers to amend their returns when mistakes or oversights have been made. Read on for more information about what’s involved in filing an amended tax return.

Knowing the proper time to file an amended tax return is key. In certain circumstances, this must be done, while in others, it’s unnecessary. Here are some scenarios that necessitate an amendment:

It suddenly dawns on your that a tax deduction or credit was not claimed, and the wrong filing status was declared.

It turns out there’s a missing dependency to be included in the return and an income source not previously accounted for.

Uncovering that an expense, deduction, or credit already claimed is no longer applicable is another issue to solve.

It’s important to ensure the IRS has finished with your tax return prior to submitting an amended one – that way, there will be clarity regarding which is the original and which is revised. A good indicator of this is a received tax refund; once you’ve gotten your rebate, you can be confident that the agency has dealt with your filing.

Do you ever need to submit an amended tax return?

Generally, it’s unnecessary to resubmit a tax form you have already filed with the IRS or amend your tax returns just because of some minor math or clerical errors. The Internal Revenue Service typically takes care of corrections for such mistakes on its end. It will send an additional bill for taxes or offer a refund in cases where the error was advantageous to the taxpayer.

Have you made any mistakes on your past tax returns? Filing an amended tax return may be the solution. The Internal Revenue Service (IRS) could audit previous years’ taxes, which might result in extra taxation. According to regulations, the IRS usually scrutinizes files filed within the last three years; however, addressing any potential issues before prior tax return(s) becomes a problem is preferable. Amending a filing can easily remedy errors that were previously made.

Submitting your amended tax return as soon as possible is highly recommended. Doing so can help reduce the possibility of owing taxes and any applicable penalties. Additionally, it will ensure that you are prepared for any issues that may arise with the IRS.

Are you aware of the time frame to file an amended tax return?

The Internal Revenue Service (IRS) dictates that an individual can only file an amended return to claim a refund within the following:

A period of 3 years from the deadline for primary tax filing, or within 2 years of paying the tax owed for that tax year – whichever date is latter. Unfortunately, requesting reimbursement after these specified timescales have passed is impossible.

Have you ever needed to make a correction to your tax return? 

Submitting an amended return is relatively simple, and this guide will provide all the steps necessary. Here’s what to do:

First off, it’s essential to gather the proper paperwork for preparing an amended return. You’ll need your original tax return and any necessary updated documents.

You may require new or amended documents, such as a W-2 or 1099 form to revise the income reported on your return. Additionally, should any overlooked tax deductions or credits come to mind, supporting documentation would be needed to apply them; this could take the form of receipts for charitable donations, amended Form 1098 Mortgage Interest Statement forms, and even Form 1098-T for education credits.

Obtaining a transcript from the Internal Revenue Service is an option for those who did not file a tax return using Prior Tax and don’t have a copy of it. The Get Transcript tool available on IRS.gov can be used for this purpose, which provides most of the necessary details from the return like income, deductions, credits, and so forth.

The next move is to obtain the pertinent paperwork.

For example, to amend a tax return, you must file IRS Form 1040-X. Additionally, any forms affected by your modification should also be kept on hand. For example, to alter itemized deductions, it’s vital to possess a copy of Schedule A for that particular tax year.

Amending your tax filing may require additional forms based on the type of income added. For instance, Schedule B is likely necessary when adding more interest or dividend income. When it comes time to change revenues or expenses from a trade or business, you’ll need Schedule C and Schedule SE. Meanwhile, Tax Form 8949 and Schedule D would be used for updating capital gains/losses. And so forth.

In order to file an amended tax return via Prior Tax, it is necessary to use the appropriate version of the program. So, for instance, when altering your 2020 tax return, one should employ the 2020 edition of PriorTax.

Even though you did not use Prior Tax to file your initial tax return, it is still possible to use it in order to complete an amendment. You will need to start by entering the same information into Prior Tax that was filed initially and then move forward with the amendment process.

After you have gathered the necessary receipts and documents, the next crucial task is to complete Form 1040-X. This particular form consists of three columns that must be filled out accurately.

Column A is where you enter all your figures and information as reported on your tax return.

The information in the third line of the return should be filled out accordingly. This is where you will enter the changes from your original return. Take, for instance, an amendment on your gross income to include $100 of interest income that had been left out initially – in this case, $100 should be written in Line 1, Section B. The total amount should then be placed in Section C; by summing up what was entered into A and B.

When filing Form 1040-X, Section III requires a thorough explanation of why an amendment to the original return is being made. Therefore, it’s important to provide detailed insight into the purpose of your revised tax filing.

Filing an amended return doesn’t have to be a difficult process. 

With Prior Tax, you can get help from free dedicated tax professionals without needing to memorize all the details. All you have to do is let our dedicated tax professionals know that you require a Form 1040-X, and they’ll make sure any adjustments to your income and deductions are accurately filled out on the right paperwork.

Lastly, send in your amended tax return. Once you have finished completing the necessary forms, it’s time to submit them. As of 2019, taxpayers are able to e-file their amended tax returns so long as the original return was filed electronically and your tax software partner supports sending amended documents in this manner.

Certain supporting documents are necessary to validate the changes for those filing an amended return. This could include W-2 or 1099 forms to report extra income, a Tax Form 1098 Mortgage Interest Statement that has been updated, or even a 1098-T for the purpose of claiming education credits.

Amend Tax Return

Posted by admin on May 4, 2023
Last modified: May 5, 2023

Correcting Errors Made from Previous Tax Filing for Amended Tax Return

The Internal Revenue Service offers taxpayers the opportunity to fix any mistakes made on a previously submitted tax return by filing an amend tax return form. Through their straightforward procedure, amending your taxes is an achievable task. Take note of this article’s advice to learn how you can make changes to your annual fiscal obligations.

Filing taxes can be a complex process. All the paperwork, forms, and documents associated with filing a correct return can be overwhelming. To help with this, you need to collect all of your W-2s, 1099s, receipts, and other relevant materials prior to completing the data entry on the various schedules and forms.

Discovering that you missed important information after filing your taxes can be disheartening. Various credits or forms may have slipped through the cracks, but fortunately, the IRS provides a straightforward solution: amending your tax return. This process is simple and requires filling out some additional paperwork.

Amend Tax Return by Altering the Details

 It can be beneficial to file an amended tax return with the IRS in order to make corrections on a previously submitted return. Doing so may help you avoid potential interest and penalties due to underpayment of taxes, should these changes result in a larger amount owed.

Filing an amended tax return is often allowed by law in order to adjust:

 – your chosen filing status,

– gross income amounts,

– any reported dependents, and

– amend tax deductions and tax credits from prior tax returns.

In the case of accurate information with miscalculations, filing an amendment may not be necessary for your original return. Correcting any math mistakes should suffice to ensure accuracy.

When you file your taxes with Prior Tax, you can be sure that all calculations are 100% accurate. Even in mathematical errors, our software double-checks and rectifies them automatically. In case of any recalculations due to these issues, you will receive written notification from the IRS regarding its effect on your tax refund or bill.

amend tax return

Timing to Amend Tax Return – Limitations of Time

It is important to be aware of the limited time allowed for filing an amended tax return, as failure to do so within this timeframe may mean you won’t receive your refund from the IRS. To ensure that you receive any tax owed back, an amended return should be submitted before either of these deadlines:

The IRS allows for two rules regarding filing a tax return after the deadline. First, you have up to 3 years from its original due date to make your submission. For instance, in the event that your 2021 tax return is submitted on April 1, 2020, you have until April 18, 2023, to submit the amended version of your taxes to the Internal Revenue Service (IRS). 

Even though you may have to pay more tax due to an amendment, filing a new return is unnecessary after the allotted time frame has passed. Bear in mind that any amendments filed outside this window will not be eligible for a refund from the IRS.

How to Amend Tax Returns: What You Need to Know

First, before you start amending an existing tax return, obtaining any new documents related to your income is vital. These can include a 1099 or W-2 that may have been missed in the first submission. Also, proof of eligibility, such as a receipt, will be useful if you claim a deduction or credit.

The second step to begin the process of amending your federal returns starting from the 2019 tax year, you can either electronically file with Prior Tax or paper-file. Those who get help from free dedicated Prior Tax Professionals to complete their original return can easily file by logging into their account and selecting the corresponding amend tax return that needs to be amended. To complete a paper filing, you will need IRS Form 1040-X, which is available for download on the official website of the IRS.

The third stage of the process is to work out which error needs to be addressed. Acquiring a blank form for the same year as your initial tax filing is essential in this situation, so you can accurately make alterations and evaluate how this will affect your overall return.

Do you need to file an amendment on a tax return that has already been submitted via Prior Tax? Well, we have the perfect solution for that. All one has to do is get in contact with their dedicated Tax Professional.

Forget about DIY taxes and get your returns done right with Free, Dedicated Prior Tax Professionals. Leave the tedious work to us – just answer simple questions, and we’ll handle the rest from start to finish. We’ll make sure you get your maximum refund guaranteed. Filing your taxes can be a hassle, but with Prior Tax, you can do it confidently, knowing that experts are by your side.

Modification to Your Tax Filing to Get Amended Tax Return

Posted by admin on April 26, 2023
Last modified: April 25, 2023

Have you submitted your income tax return only to find an error in the filing? You can correct this mistake by filing Form 1040-X and amending the original tax return. This will enable you to take advantage of any tax deductions or tax credits you may have missed initially, while ensuring an accurate representation of your taxes paid.

Is it possible to modify and amend my federal income tax return?

Unfortunately, changes to the original income tax filing are not allowed. The only exception is when an electronically-submitted form fails to be accepted – you can alter your return before resubmitting.

After you have sent in your original tax return, you may need to adjust the information entered. To do this, you will need to submit an altered 1040-X form which outlines the corrections along with a brief explanation as to why they were necessary. Fortunately, it is not necessary to resubmit your entire return – instead, show the alterations required and recalculate your overall obligations for taxes.

The deadline for filing an amended tax return to get a refund is either 3 years from the original tax filing date or 2 years from the taxation payment, depending on which comes later.

How do you change your federal income tax return? 

With Prior Tax, getting the amended tax return process is made simple. Our Dedicated Free Tax Professional guides users through each step of amending your return with ease.

Are electronic tax filings available for Form 1040-X?

The answer is yes. The IRS began offering the ability to electronically submit amended returns for 2019 and all subsequent tax years. To be eligible to file an amended tax return electronically, the original filing must have also been filed in this manner.

amended tax return

When dealing with amended returns, it’s important to note that you can only e-file for three tax years – current and two prior. Beyond this, for a year older than three years ago, you’ll need to print out your amended return and mail it in.

Before pursuing an amended tax return, one should always check whether the provider of their tax software offers electronic filing for returns other than the current year.

How to get your tax return amended?

Making adjustments to a state tax return can be done with just two simple steps. Firstly, you must complete an amended federal income tax return Tax Form 1040-X.

Next, to properly file an amended return, acquiring the correct form for your particular state is essential. Again, utilizing the information from Form 1040-X can make this process simpler and more efficient.

When you need to make corrections or changes to a previously filed tax return, the process is typically quite similar, no matter which states you’re in. Generally, most states require that an amended return be filed using a specific form with the number usually, but not always, ending in X. For instance, California has its own tax form, Schedule X, while other states have different ones, while Hawaii utilizes Schedule AMD as an example.

It is very important to remember that a copy of your amended federal tax return which includes the tax Form 1040-X, should be included with any amended state tax return. Most states will require this, so remember to include this tax form.

Make tax filing a breeze with Prior Tax to E-file and enjoy the convenience of having a dedicated tax expert do your taxes from start to finish. For those who prefer more guidance and assistance, Dedicated Free Prior Tax Professional can help you get them done right. You can also have confidence in filing your own taxes with Prior Tax simple online process.

Amended Tax Return in 2023

Posted by admin on April 21, 2023
Last modified: April 21, 2023

Key Takeaways for Amended Tax Return

– Incorrect or missing information on your tax return? You can correct it using the Tax Form 1040-X for amended tax return. This tax form helps you amend, or change, any errors from the previously filed return.

– Tax Form 1040-X should not be utilized to report insignificant mistakes, as these will be fixed by the IRS. When you need to make more serious changes, such as revising your filing status, claiming omitted tax deductions or credits, or including unreported income, then this form should be employed.

– Generally, the deadline for filing an amended tax return is 3 years from the initial tax filing date or two years from when the payment of taxes for that year was made – whichever comes last.

Overview of Amended Tax Return

Have you recently noticed an error on your prior year tax return or realized there was a deduction or credit you could have taken advantage of? Correcting the mistake is easy – all you need to do is file an amended tax return. This guide provides instructions on when and how to amend your income taxes using Tax Form 1040-X.

Here’s what you need to know.

amended tax return

Amended Tax Return for Correcting Errors

It is inevitable that errors are made on tax returns, which is why the IRS provides an opportunity to amend a filed return. Here is a guide to what you need to know when considering submitting an amended tax filing.
At times, you may need to revise your tax return – but how can you tell? Here are a few of the most frequent situations that require an amended form:

Recognizing that your tax filing had mistakes, it is important to take action. Maybe a deduction or credit was not taken advantage of, the wrong filing status was used, or a dependent needs to be added or removed from the return. Additionally, income that should have been declared could have been overlooked – and possibly expenses, deductions, or credits claimed for which one wasn’t qualified.

When an arithmetic or typographical mistake is spotted on a recent tax filing, it’s not always necessary to submit an amended tax return. Generally speaking, the Internal Revenue Service will take care of any adjustments required and will send out either a bill for any extra taxes owed or a refund in the event that the mistake was to your benefit.

Prior to submitting a revised return, it is important to verify that the Internal Revenue Service (IRS) has already handled the initial tax filing. Taking this step will help guarantee that no confusion will be caused by combining your original and amended returns. In addition, should you have received your refund, you can be certain that the IRS has already processed your return.

It is important to be aware of the time frame for filing an amended return to collect a refund. The Internal Revenue Service (IRS) places a limit on the time you have: three years from the original filing deadline or two years from when taxes due for that year are paid, whichever is later. Outside of this limited window, getting a refund by amending your return is typically impossible.

Filing an adjusted tax return may seem intimidating, but it is actually quite simple. Here’s a helpful guide on the right way to go about doing it.

Amending Tax, Step One.

At the beginning, it is essential to round up all necessary paperwork. Therefore, first and foremost, you should obtain your original tax return and any supplemental documents that are required for the preparation of an amended return.

In order to adjust the income you stated on your return, you’ll need either a revised or new W-2 or 1099 form. In addition, should you have forgotten to claim a tax deduction or credit, it is imperative that you have proof of the deduction – such as a receipt for charity donations, Form 1098 Mortgage Interest Statement, which has been changed, or an amended Form 1098-T to apply for an education credit.

Making use of Prior Tax, once you have filed your tax return initially, it is easy to access the same online. Alternatively, you can print a copy from the saved PDF on your computer.

Amending Tax, Step Two

The next thing you’ll want to do is collect the right forms. To amend a return, you’ll need Form 1040-X and any additional documents that may be impacted by your change. For instance, to adjust itemized deductions, a copy of Schedule A will likely be necessary. You should also get hold of Schedule B for amendments that relate to interest or dividend income. Moreover, alterations regarding trade or business income and/or expenses usually call for Forms C and SE, respectively. Lastly, modifications in capital gains and losses would necessitate Tax Forms 8949 and Tax Schedule D, respectively.

Amending Tax, Step Three

The third part of the process is completing Form 1040-X. This form contains three sections that must be filled out in order to submit it. In Column A, you will need to enter the numbers reported on your original tax return – which you collected in the first steps. Utilize these numbers to make sure it is accurate.

To make the necessary adjustments to your original tax return, look no further than Section B. Here you can identify how much of an increase or decrease is needed. To illustrate, should you wish to include $50 of interest income that was not initially included in your filing, simply enter this number on line 1, under the second section.

In Part III of Form 1040-X, it’s important to thoroughly explain why you’ve decided to submit an amended return. To assist in that process, make sure to review the totals from columns A and B before entering the total into the dedicated field in Section C.

Preparing a Form 1040-X doesn’t have to be complex. With the help of our Prior Tax Dedicated Free Tax Professionals, you don’t have to understand every nuance of the process – simply indicate that you want to amend your return, and its guidance will take care of the rest. The software will automatically adjust your income and deductions based on what changes need to be made.

Amending Tax, Step Four

Once all required forms have been amended, it’s time for the fourth and final stage of the process – submitting them. From the 2019 tax year onwards, the IRS permits electronic filing of changes to a return that was originally done electronically, assuming your software provider supports this service. For taxes filed prior to 2018, however, you must print out an updated Form 1040-X as well as any other documents that require amending. Any relevant supporting material should be included, too, such as: any new or amended W-2 Tax Forms or 1099 Tax Forms.

When you are making amendments to your taxes, you may need to alter certain forms or schedules, such as Tax Schedule A, for itemized deductions. Additionally, the IRS might send notices for your amended return. To complete the process, you must either mail the relevant documents and forms to the address provided in the instructions or electronically file your return, depending on what is possible.

In the event that you need to pay more taxes due to an amendment on your tax return, it is better to act as soon as possible. You may either mail in a check or log into the IRS website and make the payment online. Prompt action can help reduce any interest fees or penalties that may be imposed. Furthermore, making a payment now will save you from waiting for an invoice to arrive from the IRS.

When filing for an amended tax return, the method used can have a significant impact on processing time. While e-filing typically leads to faster results, submitting through paper can take up to 8 weeks for the IRS to process. To check on your amended return status, you will want to use the Where’s My Amended Return? The tool from the IRS. Generally speaking, 3 weeks from when you mail your return before information shows up in their system.

In the event that you need to make changes to a previously submitted federal income tax return, then amending your state tax return will likely be necessary. Various states have their own form, which must be completed when amending a return; Prior Tax can select the appropriate tax forms for each individual state and give directions on submitting them correctly.

Do you want the assurance of having your taxes done right? Choose Prior Tax Dedicated Free Tax Professionals and have a tax expert take care of them from start to finish. Alternatively, with Prior Tax Dedicated Free Tax Professionals Assisted, you can get assistance from tax specialists along the way. With this option, just answer their simple questions and allow them to show you how to file your taxes confidently. In any case, a maximum refund is guaranteed for you.

Prior Tax Dedicated Tax Pro Tip:

Filing an amended return requires making the proper preparation to support any changes. For example, include updated documents like a revised W-2 or 1099 form for increased income, a new or altered Form 1098 Mortgage Interest Statement, and a Form 1098-T to assert educational credits.

Amended Tax Return

Posted by admin on December 21, 2022
Last modified: February 13, 2023

Key Takeaways When Getting Amended Tax Return

If you filed your income tax return with missing or inaccurate information, you could amend the tax return using the tax form 1040X with PriorTax and our Tax Service Professionals. Here is how to file a 1040X form with the IRS, when you should amend a tax return, and other rules you should know. When filing your tax form 1040X, you may wonder what to put on your amended return.

Use the tax form 1040X to report major changes, like adjusting filing status, adding or dropping a dependent, filing for tax deductions or credits you missed, or adding taxable income that you forgot to itemize. In addition, tax form 1040X is generally used to address errors regarding your filing status, income, claims for deductions or credits, or tax liabilities.

Once you have indicated you are preparing a modified return, PriorTax Tax Service Professionals will assist you in completing tax form 1040X and any supporting forms and documents as you make changes to your income and deductions. Sign up to PriorTax to create your account to enter your information, or sign in again to start editing your return. Then, you can reach out to our Tax Service Professionals to walk you through this process. The filing does not accelerate the process and can slow it down; tax amendments are made only to modify or fix things in an accepted tax return.

amended tax return

Generally, you should file a tax amendment form with IRS and/or a state amending return if you need to add more information, delete information, or make a general correction on a return on your income tax that you have completed filing already via mail or electronically. Unfortunately, some state tax agencies do not permit you to e-file your individual income tax amendment; you may need to mail your completed, amended state return to your state to complete it. Previous years’ amendments may also be completed at no cost. Note that with PriorTax, you could eFile your past 3 years of federal taxes.

Suppose you are owed a tax refund on the tax returns for the current year. In that case, the IRS says that, generally, you should wait to get your refund before filing a tax amendment for an amended tax return, especially if you are filing for a refund extension.

How Soon to Act for An Amended Tax Return?

If you are filing tax form 1040X to claim your refund, you typically must do so within three years after filing your original return or two years after paying the taxes, whichever is later. However, you could amend your taxes if your original return was prepared using tax form 1040 or tax form 1040SR. To file your amended tax return, you can e-file or download the 1040X form with PriorTax and with the help of our Tax Service Professionals.

To add or change the number of dependents who qualify, you must print and mail the amended tax return for each affected year to the IRS. However, you do not have to file an amended tax return if some tax forms are not attached because, in such cases, DOR would contact you if additional information is needed.

Are There Penalties for Filing Amended Tax Return?

No penalties are assessed on the additional taxes if you voluntarily file the amended return and pay any taxes due.

Anyone can file an amended tax return with PriorTax, even if they used another vendor or mail in their original return. However, an amendment should be filed only if the IRS or a state has already accepted your return and you need to make changes because of a bug, omission, or statutory update.

20 Facts About Filing an Amended Prior Year Tax Return

Posted by admin on February 7, 2017
Last modified: October 23, 2019

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. (more…)

How to Check A Prior Year Tax Refund Status

Posted by Michelle O'Brien on October 20, 2016
Last modified: May 24, 2018

Go online and use the “Where’s My Refund” IRS tool. It works!

Although the IRS “Where’s My Refund” tool is available to check the progress of your return, it only applies to the tax return you filed for the most current tax year.

For example, let’s say you file your 2013 tax return and soon after remember to file your late 2012 return. Although you filed your 2013 taxes before your 2012, 2013 is going to be the one that the IRS site shows the status for since it is the most recent tax year in their database for you.

So how do you check your prior year tax refund status after mailing your return to the IRS?

Brace yourselves as many of you aren’t going to like Plan B. You’ll need to call the IRS. Of course, you don’t want to mail your return and call on your lunch break the following day. The IRS insists that you wait it out for at least 6 weeks after mailing your return to call and check on the status. When you call, make sure you have the following handy:

  • tax year
  • social security number
  • filing status
  • exact refund amount

You can call 1-800-829-1040 and follow the prompts for a live representative. The person that you speak with will have direct access to your tax return and be able to provide you with a status update.

Tip: Request a tracking number when mailing your return. It’ll give you peace of mind to know that it arrived safe and sound.