By Michael Lodge
We have new clients come into the office and say they made a mistake on their tax returns they filed by hand. Or current clients that forget information on their returns and didn’t tell the tax preparer. So what do you do?
It really depends on the type of mistake you made.
- Many mathematical errors are caught during the processing of the tax return and corrected by the IRS, so you may not need to correct these mistakes.
- If you did not attach a required schedule or form, the IRS will contact you and ask for the missing information.
- If you did not claim the correct filing status or you need to change your income, deductions, or credits, you should file an amended return.
When filing an amended or corrected return:
- Include copies of any forms and/or schedules that you are changing or did not include with your original return. To avoid delays file the form 1040X only after you have filed your original return. Generally, for a credit or refund, you must file Form 1040X within 3 years (including extensions) after the date you timely filed your original return or within 2 years after the date you paid the tax, whichever is later.
- Allow the IRS up to 16 weeks to process an amended return.
If you have any questions about filing an amended return, call our client service representative and they will have a tax practitioner prepare your amended return.
Send your tax questions to: firstname.lastname@example.org