Amending a Tax Return: Step-by-Step Guide to Fixing Errors
Realized you made a mistake on your tax return? Whether you forgot income, missed a deduction, or filed under the wrong status, amending your tax return is easier than you think. Here’s how to fix it step by step—without the stress.
Why You Might Need to Amend Your Tax Return (& When to Do It): First things first, why would you need to amend a tax return? Here are a few common reasons:
You forgot to report some income.
You missed a deduction or credit.
You realized you made a mistake in your filing status. No matter the reason, amending your return can help ensure you pay the right amount of tax (and maybe even get a bigger refund!).
Step-by-Step Guide to Amending Your Tax Return:
1. Gather Your Documents: Before you start, make sure you have all the documents related to the error. This includes your original tax return and any new forms or receipts.
2. Get the Right Form (Form 1040-X): You’ll need Form 1040-X, which is the Amended U.S. Individual Income Tax Return. You can download it from the IRS website or get it from a tax professional. Some of the highly advertised DIY tax software programs will also have this form available.
3. Fill Out Form 1040-X: Form 1040-X is designed to be easy to understand. Here’s what you’ll do:
Column A: Enter the numbers from your original tax return.
Column B: Show the changes you’re making.
Column C: Calculate the corrected amounts.
Explanation Section: Write a brief explanation of why you’re making the changes. Keep it simple and clear.
4. Attach Supporting Documents: If your amendment involves new forms (like a corrected W-2 or 1099), attach those to Form 1040-X. Also, include any other documents that support the changes you're making.
5. How to File Your Amended Tax Return (Paper vs. E-File): If you're working with a Tax Professional, they should be able to electronically file this form for you. Also, some DIY online tax programs allow you to file. You can also mail it to the IRS. The address depends on where you live, so check the instructions on Form 1040-X for the correct address. If you do mail it, I suggest using Certified Mail Return Receipt so you will have a Tracking Number and will be able to track the date they receive it, as well as receive a "return receipt" so you officially will know they got it.
6. Wait for the IRS to Process Your Amendment: Amended returns can take up to 16 weeks (sometimes even longer) to process, so be patient. You can check the status of your amended return using the 'Where’s My Amended Return?' tool on the IRS website.
Avoid These Common Mistakes When Amending a Tax Return: Here are a few tips to help you avoid common mistakes:
Double-check Your Numbers: Make sure all the numbers add up correctly.
Include All Forms: Attach all necessary forms and documents to avoid delays.
File on Time: You generally have three years from the date you filed your original return to file an amendment.
Amending a tax return doesn’t have to be stressful. By following these steps, you can correct any mistakes and ensure your taxes are accurate. If you need help, don’t hesitate to reach out to a tax professional. If you have questions or need more guidance, contact us for personalized tax advice and support. We’re here to help you every step of the way!
About the Author:
I’m Coach Ktasha (Tasha), and I help entrepreneurs simplify taxes, structure their businesses the right way, and create marketing strategies that bring in more clients. Running a business doesn’t have to feel overwhelming—I provide expert, no-fluff guidance so you can focus on growing your income and reaching your goals with confidence.