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Amending Your Tax Return: What You Should Know

Dec 25

Amending your tax return is a common practice, and it’s important to understand the process. Whether you realize you made a mistake on your original return or something has changed since you filed, there are certain steps to take when amending a tax return. Read on to find out what you need to know about how to amend your taxes.

When Can I Amend A Tax Return?

You can amend your tax return at any time after filing it; however, if you are expecting a refund from an amended return, be aware that the IRS has three years from the date of filing to issue refunds for amended returns. If you wait too long and exceed this time frame, the IRS will not issue a refund for an amended return. It’s important to note that if you owe money due to an amendment, interest and late fees may apply.

Is It Possible To Submit My Amended Return Electronically? 

Electronic filing offers a quick and convenient option for those amending their US individual income tax return. With today’s technology, forms 1040-X, 1040-NR and 1040-SS/PR can be amended by simply using approved tax software products. By choosing this method of filing, individuals can enjoy the benefit of having their amended return ready to review and submit in just a few easy steps – all from the comfort of home! Electronic filing eliminates the need to print and mail your amending forms, helping to make life simpler and reducing paperwork.

Common Reasons To File An Amended Tax Return

Filing an amended tax return is a sensible decision if you find yourself in certain situations. You should consider filing an amended tax return if you receive another W-2 or income statement after the original filing deadline, to ensure that all of your income sources are taken into account. It may also be necessary to amend your return if you were eligible for a credit or deduction that was missed in the initial filing, or If your parents desire to declare you as a dependent on their taxes, yet you have already taken the personal exemption in filing separately.. Taking these steps now can save you time and money down the road and help to ensure accuracy when it comes to meeting your obligations with the IRS.

Which Forms Do I Need?

If amending your federal income tax return, Form 1040X must be used. Additionally, depending on which year's return is being amended, other forms may need to be included with Form 1040X as well. These additional forms vary based on the type of information being corrected in the amendment and what year’s original tax return is being amended. It’s best practice to check with a certified public accountant (CPA) or tax advisor before submitting any documents related to an amendment so that all required paperwork is included in order for the amendment process to move forward smoothly.

What Information Is Required?

When filling out Form 1040X for an amendment, both the original information from your initial filed return and the new information that should have been included must be entered into each field of Form 1040X accurately and completely. This includes address changes as well as income changes due to updated W-2 information or newly added deductions or credits. Any required forms accompanying Form 1040X should also include updated information accordingly. Failure to provide accurate information when submitting an amended tax return could result in delays in processing times or even audits by the IRS due to incorrect reporting of income or deductions claimed on one’s original filing versus their subsequent amendments.

Are There Repercussions For Making Changes To My Tax Return?

Making corrections to your tax return can be beneficial but it’s important to understand the possible repercussions of filing an amended return. While there is no penalty for simply filing a revised return, if you have made an error that resulted in underpayment of tax, it is expected that you will owe the additional amount due. It's wise to amend your tax return before the April deadline and pay the remaining owed in order to avoid any unnecessary penalties.

Do You Need Assistance To Amend Your Tax Return?

Amending your tax return can be a tricky process, and mistakes could mean redoing the process or being subject to penalties. Ideal Tax offers comprehensive assistance to help you get it right the first time. Whether you're looking for an experienced professional or do-it-yourself support, Ideal Tax has services tailored to fit every need. Plus, Ideal Tax can help you file returns from previous years as well. Click here for more information on how Ideal Tax can make amending your tax return easier and stress-free.


Amending your taxes can seem intimidating but doesn’t need to be overwhelming if done correctly with all relevant documentation included with each submission. If you think you may need help amending your taxes it's wise to contact a CPA or other professional who specializes in these matters since they can help ensure accuracy in all documents submitted and advise on any late fees associated with filing past deadlines for amending returns correctly and efficiently so that no surprises come up down the line when dealing with any potential refunds due from previously filed returns requiring amendments later down the line. Amending taxes can ultimately save taxpayers both time and money if done correctly so it pays off in dividends (literally) down the line! In summary, understanding how amending taxes works helps ensure accuracy throughout the entire process!