Should You File an Amended Tax Return?

Made a Mistake? Need to Amend a Previously Filed Tax Return?

Peter E. Alizio Income Tax

Amending My Income Tax Return, a short video from our friends at the IRS…

Why would a taxpayer amend a tax return?

Generally speaking the majority of taxpayers will amend their tax return if they omitted income or deductions on the originally filed tax return. However, taxpayers may file an amended tax return for various other reasons like to change the filing status reported on the original tax return or make certain tax elections after the prescribed deadline.

Amending a Tax Return will usually result in:

  1. Refund: Please note there is a Statute of Limitations (“SOL”) on receiving a refund.  The SOL is 3 years from when the tax return was filed OR 2 years from when the underlining tax was paid (via withholding/estimated tax payments/paid tax return balance).
  2. Balance Due: Interest & Penalties will be added on to any balance.

When should I amend my tax return?

The IRS is very clear that taxpayers should not amend a tax return until the originally filed tax return has been processed. In other words, wait until you receive your refund before amending the tax return.  If you had a balance due wait an appropriate amount of time for the originally filed tax return to be processed. 

Due to the SOL on refunds, it is in the best interest of the taxpayer to amend the tax return ASAP.

How long do I have to amend my tax return?

This is not common knowledge but the ability to amend a tax return is not a statutory right. There is no section in the Internal Revenue Code titled “Amending Tax Returns”. The process of amending a tax return is an IRS administrative procedure.  If the IRS does not accept your amended tax return you can go to court and try to compel them to accept it by claiming abuse of discretion.

*The IRS will accept amended tax returns filed within 3 years of the originally filed tax return.

How to amend my tax return?

Use Form 1040X titled “Amended U.S. Individual Income Tax Return” to amend your individual income tax return. This form has 3 Columns listed A, B, & C.

Column A – Original Amount reported on the Originally Filed Tax Return.
Column B- Increase or Decrease from the amounts reported on the originally filed tax return.
Column C- Correct Amount the correct amounts after making adjustments to originally filed tax return. 

Image of 1040X

Can I file my amended tax return electronically?

NO Form 1040X cannot be e-filed or electronically filed.  Unfortunately, Form 1040X must be paper-filed and mailed to the IRS.  UPDATE (6/12/2020) -> the IRS has announced that taxpayers will soon be able to file amended tax returns electronically.  

Where to mail Form 1040X?

Where to mail my amended income tax returnIRS mailing addresses do change from time to time. Therefore it is advised that before mailing your amended tax return to verify the IRS address per the 1040X instructions under “Where to File” to confirm you are mailing Form 1040X to the proper IRS address.

Track your amended tax return!

Taxpayers can now check the status of their amended tax return using the IRS Website.

If you have a question or want us to review a previously filed tax return, contact us.

Alizio Law, PLLC
IRS Tax Lawyer
1551 Franklin Ave #205
Mineola, NY, 11501
Telephone: 212-520-2906
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