If you discover an error or omission on a tax return you’ve already filed, you can fix the mistake by filing an amended tax return. The IRS recently issued ten facts taxpayers should know about amending a return. Here’s a quick summary.
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Use Form 1040X (Amended U.S. Individual Income Tax Return). Amended returns cannot be e-filed; you must file on paper.
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Consider filing an amended return if your filing status, income, deductions, or credits must be changed.
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Generally, no amended return is needed to correct math errors; the IRS will automatically make these changes for you.
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You have three years from the original filing to amend a return.
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When amending more than one return, mail each in a separate envelope.
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Attach necessary schedules to Form 1040X.
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Amended returns take up to 12 weeks to process.
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If you owe additional taxes with Form 1040X, pay as soon as possible to minimize interest and penalties.
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You can track the status of your amended return three weeks after filing, using the “Where’s My Amended Return?” under TOOLS on www.irs.gov.
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In tracking your amended return, you’ll be asked to provide your social security or other ID number, date of birth, and zip code.
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