What Is An Amended Tax Return And How Do You Check Its Status?
You may have heard of amended tax return status before but not known exactly what it is. This is a process of filing a revised tax return with the Internal Revenue Service (IRS) if you have made an error on your original tax return. It is important to understand what amended tax return status is and how to check the status of your amended tax return.
What is an Amended Tax Return?
An amended tax return, also known as a 1040X, is a form used to correct errors on a previously filed tax return. It must be filed with the IRS in order to reflect changes to your original return. Commonly, a taxpayer will file an amended tax return if they forgot to include a form or made an incorrect calculation. It is important to note that filing an amended tax return does not necessarily mean that you will owe more taxes. It can also be used to claim a larger refund.
When Should You File an Amended Tax Return?
If you find an error on your original tax return, you should file an amended return as soon as possible. The IRS typically gives you up to three years to file an amended return after you have filed your original return. However, the sooner you file it, the better, as it will decrease the amount of time it takes to process the amended return. Additionally, if you are due a refund, it is important to file an amended return as soon as possible to receive your refund.
How Do You File an Amended Tax Return?
Filing an amended tax return is relatively simple. You will need to fill out the 1040X form, which is available on the IRS website. You will need to include your original tax return and any documents that are necessary to correct the errors. You should also include an explanation of why you are filing an amended return. Once you have filled out the form and gathered the necessary documents, you can file it online or mail it to the IRS.
How Do You Check the Status of an Amended Tax Return?
Once you have filed your amended tax return, you will want to check its status. You can check the status of your amended return the same way you check the status of your original return. You can use the IRS Where's My Refund tool to check the status of your amended tax return. You will need to enter your Social Security number, filing status, and the exact amount of your refund. The tool will then provide you with the status of your refund.
What Happens if the IRS Does Not Accept Your Amended Return?
If the IRS does not accept your amended return, you will want to review the reasons why and make any necessary changes to the return. You will then need to resubmit the amended return with the necessary changes. You should also include an explanation as to why the changes were made. The IRS will then review the amended return and either accept or reject it.
Should You Hire a Professional to Help With Your Amended Tax Return?
If you are having difficulty filing an amended tax return, or if you are unsure if you need to file one, you may want to consider hiring a professional. A tax professional can review your situation and help you determine if filing an amended tax return is necessary. They can also help you fill out the form properly and ensure that it is filed correctly. This can help save you time and ensure that your amended tax return is done correctly.
Conclusion: What You Should Know About Amended Tax Return Status
It is important to understand amended tax return status and how to file an amended tax return correctly. If you have made a mistake on your original tax return, it is important to file an amended return as soon as possible. You can check the status of your amended return using the IRS Where's My Refund tool. Additionally, if you are having trouble filing an amended tax return, you may want to consider hiring a tax professional.