How to Amend a Tax Return

Filing taxes can be a complicated process. Sometimes, there are too many things that you need to juggle and you end up making a mistake when you are filing your return, like not searching tax deduction information. If this has happened to you, then you don't need to worry about things too much. There are ways to fix the issue, and you can do it without too much of a hassle. If you have already filed your tax return but you need to make changes to it, then you are going to need to fill out a different form.

You are going to need to file a form called a 1040X. When you do this, you will need to make sure that you include the right information to make sure that your amended tax return gets accepted. When you fill out this form, you will need to fill in the corrected information. You are also going to need to make sure that you explain why you are changing your information on your tax return. You are not going to need to change the entire form, just the parts that you have made errors on.

Knowing When to Make Changes

A lot of taxpayers may feel inclined to amend their tax forms even though they might not need to. One common thing that often prompts people to try to amend errors is a math mistake. If you have made a math mistake on your return, you do not need to file an amended return. The IRS is going to make these changes automatically for you, so you will not have to worry about spending the time to file an amended return.

If you have forgotten to attach a form to your return, then you may think that you need to file an amended return. However, this is not the case. If you have not sent these forms with your return, then the IRS is going to contact you and ask you to send them. If you try to file an amended return because you forgot these things, then this could end up delaying your return by a great deal of time. Don't take this chance and just make sure that you wait for a request.

Sometimes, there may be things that just forget to include on your tax form. If you have failed to indicate some money that you made as a freelancer, then you will need to go back and file an amended return. Any income that you did not indicate on your first form needs to be included on your amended form. Keep in mind that you are going to need to explain why you forgot to include this information in the first place.

How to File Your Form

Once you have figured out how to amend a tax return, then you are going to need to figure out how to file your new form. One thing that you need to know is that you can't file your amended return online. You are going to need to make sure that you complete a paper form and mail it in that way. Although this may seem like it is less convenient, it is required by the government, so you need to make sure that you follow the proper procedures for getting your amended return filed. It is really the best way to make sure that you get your tax refund in the quickest amount of time possible, so you should file your amended return as soon as you possibly can.