Glendale Accounting | Amend Returns

What does a taxpayer do if they missed something when they filed their tax return or if a new piece of information gets discovered after the original return has been filed? The answer, is to file an amended tax return. Here are some things to keep in mind when preparing an amended return.

  • Use form 1040X, Amended US Individual Income Tax Return, to correct the original return. You will not be allowed to electronically file form 1040X, it will need to be filed on paper. You can obtain a form 1040X on at any time. Use the instructions for form 1040X to find out where to mail your form 1040X.
  • You should use form 1040X to correct errors or make changes to your original income tax return. Examples of changes would be to your filing status, income or deductions.
  • You do not need to file an amended return for math errors or missing forms. The Internal Revenue Service will automatically correct math errors for you or add forgotten tax forms, such as a form W2. The IRS will mail you a request for those items in most cases.
  • You probably don’t need to amend to correct for an incorrect Form 1095-A that was used. Eligible taxpayers who originally claimed a premium tax credit using an erroneous form 1095-A that was received, generally do not have to file an amended return regardless of the nature of the error. The IRS may contact you to ask for a copy of the corrected Form 1095-A to verify the information.
  • You generally have 3 years from the date your originally filed tax return was due to file a form 1040X to claim a refund. This means you have until April 15, 2015 to claim a refund for a 2011 income tax return.
  • Prepare an amended return for each year you are amending.
  • Attach all forms that changed with the new information when you file your form 1040X.

If you have any questions or need help filing an amended return, please contact us at Dusseau & Makris, PC, your Phoenix CPA firm.