The IRS allows taxpayers to file amended returns for up to three years after the original return was filed. There might be changes in your situation that affect your tax status, which the IRS should know about. Let’s look at the details of filing an amended tax return or Form 1040X.
When to File an Amended Return
If you want to file an amended return to claim a refund, you generally must do so three years after the date you filed your original return or two years after the date you paid the tax, whichever is later. If you filed the original return early, you can use the April tax deadline for the three-year time period.
For specific situations, you might have more than three years to file an amended return:
- Federally declared disaster
- Service in a combat zone or contingency operation
- Bad debt or worthless security
- Foreign tax credit or deduction
- Loss or credit carryback
Reasons to File an Amended Return
There could be several reasons to file a 1040X. If you’ve had a change to any of the following, you should file an amended return:
- Filing status
- Income
- Deductions
- Credits
- Dependents
- Tax liability
If the IRS informs you that it already corrected any errors on your return, you don’t need to file an amended return. Also, you don’t need to file a 1040X if the IRS accepted your original return without certain forms or schedules.
How to File an Amended Return
To file an amended return, you need to fill out and submit Form 1040X. You’ll also need to fill and submit all the same forms and schedules you submitted with the original return, even if they don’t have any adjustments.
Filing an amended return can be complicated, and you want to be sure you get the refund you’re entitled to. Gabaie & Associates, LLC helps taxpayers with all of their tax issues, including filing amended returns. If you’re unsure whether you need to make adjustments to your previously filed return or not, our team can help. We can also help you fill out the amended returns, forms, and schedules properly. Call (410) 358-1500 or send us a message on our contact form to schedule a consultation.
