What You Need To Know

As we all know mistakes are a part of life. Depending on if you received a notice, or by some chance happen to have made an error filing your tax return there are options available to help fix mistakes on your tax return If you realize there was a mistake on your return, you can amend it using an Amended U.S. Individual Income Tax Return Form 1040-X. You made need to make changes to the filing status, income, deductions, credits, or tax liability reported on your return. Perhaps you received notice that the IRS made an adjustment(S) to your return that you disagree with so you want to amended return to change the amounts adjusted by IRS. Application for Tentative Refund Form 1045 instead of Form 1040-X may be able to be used if you are seeking a refund by carrying back certain farming losses or other unused credits. Using Form 1045 can result in a quicker refund.

Generally, in order for IRS to be able to issue a refund, you must amend your return within three years (including extensions) after the date you filed your original return or within two years after the date you paid the tax, whichever is later. However, in some situations, time limits are automatically extended, allowing for more time to file an amended return. When you file Form 1040-X for a tax year it changes your original return to include new information. It becomes your new tax return for that year.

What You Can Do

After filing your tax return, you realize there was a mistake, even if you haven’t received an IRS notice and the due date for filing your tax return has passed, you can submit an amended tax return to correct most mistakes. If you need to amend your return you can do so electronically using available tax software products. You should contact your preferred tax software provider to verify their participation and for specific instructions needed to submit your amended return and to answer any questions. If you realize you made a mistake but the due date for filing has not passed, don’t file an amended tax return. Instead, file another original tax return with your correct information. If you receive an IRS notice about the IRS auditing your tax return, remember the IRS performs audits by mail or in person. The notice will have specific information on how you should proceed.

You got an IRS notice saying there was incorrect information on your tax return

This often happens before the tax return is fully processed – the IRS is giving you a chance to make a correction. The notice should explain the issue and how to respond to the IRS. See Incorrect Tax Returns for more information. If the change described in the IRS notice is different from what you think is incorrect, make sure you address both changes in your response. If the IRS made changes to your tax return during processing, you can submit an amended tax return. However, if the IRS made changes to the tax return because of an audit or an IRS assessment, you may need to request an audit reconsideration. If you didn’t think you needed to file a tax return, but later got some new information that means you should file (like receiving a late Form 1099) and you are not sure if you need to file use the Do I Need to File a Return tool.