Define: Amended Tax Return

An amended tax return is a form that taxpayers use to correct errors or make changes to their original tax return that has already been filed with the IRS.

You should file an amended tax return if you realize that you made a mistake on your original tax return, such as incorrect income or deductions, within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later.

To file an amended tax return, you need to complete Form 1040X, which is the Amended U.S. Individual Income Tax Return. You must provide the corrected information and explain the changes you are making.

No, you cannot file an amended tax return electronically. Form 1040X must be filed on paper and mailed to the IRS.

Filing an amended tax return does not automatically trigger an audit. However, if the changes you make on your amended return raise red flags or appear suspicious, it may increase the likelihood of an audit.

Yes, you can claim a refund on your amended tax return if the changes you make result in a lower tax liability or if you are eligible for additional tax credits or deductions.

The processing time for an amended tax return can vary, but it typically takes around 8-12 weeks for the IRS to process and issue a refund, if applicable.

Yes, if you made changes to your federal tax return, you may also need to amend your state tax return. Each state has its own process and form for amending state tax returns.

Yes, you can amend your tax return for previous years, but you must do so within the three-year period from the date you filed your original return or within two years from the date you paid the tax, whichever is later.

If your amended tax return results in a higher tax liability, you will need to pay the additional taxes owed. The IRS will send you a notice with the amount due and any applicable penalties or interest.