What Is an Amended Tax Return?įiling your taxes means you submit Form 1040 to report your income and expenses for the previous year by the filing deadline, which is usually April 15.
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This guide will provide all the information you need about amended tax returns and when to file them as well as an overview of how to track your amended tax return. An amended return is a must if an error was made that could get you into trouble with the IRS or become very costly for you down the road. You may also have simply made a calculation error on your tax return that could impact how much you owe or what you receive as a refund.Īmended tax returns are thus very common – around 3 million amended returns are filed each year. Alterations to tax law seem to happen often, and it’s not easy to understand all the tax breaks and requirements for businesses or individuals. Don’t try to track your return if it hasn’t been three weeks since you filed it.Use the Where’s My Amended Return? tool.You usually don’t need to submit an amended return if you made a small math mistake or you received a notice from the IRS about an audit.An amended tax return is a separate document you file when you need to correct something on your original return, like a credit, deduction, filing status, or income mistake.
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