1040X – Amended Tax Return

An Amended Tax Return is filed to correct any errors or to update information provided on the originally filed return. There is a timeline under which you need to submit the amended return to the IRS.  Often an amended state return must be filed as well.

What happens if I have a balance due/refund on the Original tax return?

Should the amended tax return create a balance due, a payment should be made promptly.  Penalties and interest may be assessed.   If the amended return results in a refund, the tax authorities will process it accordingly.

What if I find more corrections required after filing Amended tax return?

You can file an additional Amended US tax return if further corrections are required. Generally, it is preferable to wait until the first Amended tax return is processed by the IRS and then file the second Amended return.

In the case of balance due, you can opt not to make the payment reflected on first Amended tax return. Instead, you can file the second Amended tax return and pay the taxing authority the balance due on the second Amended tax return filed.

Concerns and Quick Assistance on Amended Tax Return

When can I file Amended tax return?

Within 3 years after the date the original tax return was filed or within 2 years after the date the taxes were paid, whichever is later.

Do specific things need to be included on an Amended tax return?

Yes. You will use form 1040X and the return must be paper filed. No e-file is available. The entire tax return will need to be sent to the taxing authorities, marked "As Amended."

What if I do not file an Amended tax return to correct errors or omissions?

If you do not file an Amended tax return the IRS could recalculate your tax liability without benefit of knowing your complete situation.

Can I file an Amended tax return to claim a refund of interest and penalties paid with the original tax return?

No.

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