• About Us
  • Contact Us

bookkeepingmiamiblog

~ taxes, finances and more…..

bookkeepingmiamiblog

Tag Archives: Filing (legal)

IRS Tax Tip: Amended Returns – Eight Facts

13 Friday Apr 2012

Posted by bookkeepingmiami in Income Tax

≈ Leave a comment

Tags

Amended U.S. Individual Income Tax Return, Filing (legal), Income Tax, Internal Revenue Service, IRS tax forms, Social Security number, tax return, Tax Tip

If you discover an error on your federal income tax return after you e-filed or mailed it, you may want or need to amend your return. Perhaps you are eligible for a deduction or credit and you missed it the first time?

Here are eight key points the IRS wants you to know about when considering whether to file an amended federal income tax return.

1. Use Form 1040X, Amended U.S. Individual Income Tax Return, to file an amended income tax return.

2. Use Form 1040X to correct previously filed Forms 1040, 1040A or 1040EZ. An amended return cannot be e-filed; you must file it by paper.

3. Generally, you do not need to file an amended return to correct math errors. The IRS will automatically make that correction. Also, do not file an amended return because you forgot to attach tax forms such as W-2s or schedules. The IRS normally will send a request asking for those.

4. Be sure to enter the year of the return you are amending at the top of Form 1040X. Generally, you must file Form 1040X within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later.

5. If you are amending more than one tax return, prepare a 1040X for each return and mail them in separate envelopes to the appropriate IRS campus. The 1040X instructions list the addresses for the campuses.

6. If the changes involve another schedule or form, you must attach that schedule or form to the amended return.

7. If you are filing to claim an additional refund, wait until you have received your original refund before filing Form 1040X. You may cash that check while waiting for any additional refund.

8. If you owe additional 2011 tax, file Form 1040X and pay the tax before the due date to limit interest and penalty charges that could accrue on your account. Interest is charged on any tax not paid by the due date of the original return, without regard to extensions.
Links:

  • Form 1040X, Amended U.S. Individual Income Tax Return (PDF 110K)
  • Form 1040X Instructions (PDF 45K)
  • Tax Topic 308 — Amended Returns

Videos:

Amending My Return – English | Spanish | ASL 

Advertisement

Share this:

  • Tweet
  • Email
  • Print

Like this:

Like Loading...
Proud member of the AIPB

NACPB

Proud member of the NACPB

Categories

  • About Us (2)
  • Bookkeeping Services (2)
  • College (2)
    • College Financial Aid (1)
  • Income Tax (24)
  • Miami (1)
  • Retirement (2)
  • Small Business (7)
  • Tax Credits (6)
  • Tax Volunteer (1)
  • Taxpayers (13)
    • Students (1)
  • Uncategorized (1)

Pages

  • About Us
  • Contact Us
February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Aug    

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 283 other subscribers

Accounting Adjusted gross income Adoption Adoption tax credit Amended U.S. Individual Income Tax Return American Opportunity Credit American Opportunity Tax Credit Barack Obama Bookkeeping Bookkeeping and Tax Preparation Business Charitable organization Child and Dependent Care Credit College Financial Aid Dependent Care Expenses Donation Earned Income Tax Credit Efficient energy use Employment Energy Energy accounting Energy Star Expense Facebook FAFSA Filing (legal) Finance Firms Fiscal year Form 1040 Free File Fresh Start Initiative Higher education Hire purchase Home Improvements House Income Tax Individual Retirement Account Insurance Internal Revenue Service IRS IRS e-file IRS tax forms Itemized Deduction Lifetime Learning Credit marriage Notice Payment Pension Preparer Tax Identification Number Quickbooks Records management Relocation (personal) Roth IRA Small business Social media Social Security Social Security number Solar water heating Standard Deduction Tax Tax credit Tax deduction Tax form Tax preparation Tax refund tax return Tax return (United States) Tax Tip Tax Withholding Twitter United States United States Postal Service Wage YouTube

Blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • bookkeepingmiamiblog
    • Already have a WordPress.com account? Log in now.
    • bookkeepingmiamiblog
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar
%d bloggers like this: