How to File an Amended Return
June 15th, 2009There are many circumstances when it is necessary to file an amended return after you have successfully filed your original return. We have already discussed many aspects of filing an amended return, today we are going to discuss how to file an amended return in more detail.
Why file an amended return?
When an amended return is filed, either the IRS will benefit from it or the taxpayer will. That means, the amended tax return will either result in the taxpayer having to pay more tax or the IRS having to return more money to the taxpayer. With that in mind, you will either need to file an amended return or it is optional.
If, by filing an amended return, the IRS will get more money from you then, yes, you will need to file an amended return. However, if by filing an amended return, you are going to receive money from the IRS then you may be able to choose to file an amended return or just forget about it, depending on what the problems are. The IRS is not likely going to come after you for not claiming deductions or credits that you should have claimed.
Amended Return Form
To file an amended return, you need to use the form 1040X, the Amended U.S. Individual Income Tax Return form. Here is the form: 1040x form.
The form has three columns.
- Column A shows original or adjusted figures from the original return.
- Column C shows the corrected figures.
- The difference between Columns A and C is shown in Column B.
There is an area on the back of the form to explain the specific changes being made and the reason for each change. Attach any forms or schedules that are affected by the change.
What documents to send with my amended return?
Attach copies of any forms or schedules that are being changed as a result of the amendment including any Form(s) W-2 received after the original return was filed.
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