Amending Tax Return : What You Need to Know !

amending tax returnAmending tax return may be needed because as the famous saying goes – to err is human. So ,you may just find that  there are certain error(s) in your tax return filed with IRS . This knowledge of errors in tax return require that you take immediate corrective step for rectifying the mistake and file  an amended tax return .Please note that , the IRS may , while processing your tax return , may rectify  mathematical or clerical errors on a return, therefore such error does not require any action on your part . But , any error which is not clerical error , must be rectified by filing a revised or amended return specially if there’s a change in your filing status, income, deductions, or credits.

Amending the tax return within due date will save you on interest and penalties.

1. Which form to use for amending tax return?

Use Form 1040X  known as Amended U.S. Individual Income Tax Return, to amend  a previously filed Form 1040 , Form 1040A , Form 1040EZ , Form 1040NR, Form 1040NR-EZ . Please note that if  the Form 8938 , Statement of Specified Foreign Financial Assets, applies to you, file it with an annual return or an amended return.

2. What is the time limit for revising the tax return ?

You must file Form 1040X within 3 years after the date you filed your original return if you desire to claim refund or within 2 years after the date you paid the tax, whichever is later.

3. How & Where  to file amended tax return ?

  • You can’t file an amended tax return electronically under the e-file system. An amended tax return has to be filed in paper form only
  • File a separate Form 1040X for each tax year you’re amending.
  • Mail each form in a separate envelope.

Address to send the revised tax return

If you live in Address to send amended tax return
Florida, Louisiana, Mississippi, Texas Department of the Treasury Internal Revenue Service Austin, TX 73301-0052
Alaska, Arizona, Arkansas, California, Colorado, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, Wyoming Department of the Treasury Internal Revenue Service Fresno, CA 93888-0422
Alabama, Connecticut, Delaware, District of Columbia, Georgia, Kentucky, Maine, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia Department of the Treasury Internal Revenue Service Kansas City, MO 64999-0052
A foreign country, U.S. possession or territory*; or use an APO or FPO address, or file Form 2555, 2555-EZ, or 4563; or are a dual-status alien Department of the Treasury Internal Revenue Service Austin, TX 73301-0215

4. How to check amended tax return status?

The 1040x status can be checked  three weeks after the IRS receives it by using any of the following two methods

You should know your social security number, date of birth and home zip code before using this. Also note that the IRS form 1040x can be tracked for the current year and up to three prior years. 

5. How to handle tax refund or tax due in case of amended return?

If you were expecting some refund from original return filed and as a result of revised return , if refund is decreasing , you should hold off filing the amended return until you receive your original tax refund. You can cash your original refund check while waiting for the amended return to process.If you file an amended tax return and accrue a tax amount due, penalties and interest can still build up. You should pay this balance as soon as possible as you would with your original tax return (Form 1040).

Amending tax return quickly is beneficial to tax health of  person !

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