How To Amend A Tax Return In 2023
Amending a tax return is something many taxpayers experience at least once in their lives. Whether you made a mistake on your return or simply forgot to include a deduction, you may need to amend your tax return at some point. Here’s how to do it in 2023.
Gather Necessary Documents
The first step in amending your tax return is gathering the necessary documents. You should have copies of your previous tax return, including any schedules or forms you included and any W-2s or 1099s you received. You’ll also need to gather any additional documents related to the reason for the amendment, such as charitable donation receipts or proof of additional income.
Complete the Correct Form
The form you’ll need to file to amend your tax return depends on the year you’re filing for. For 2023, you’ll need to use Form 1040X. You can find the form on the IRS website or you can call 1-800-829-3676 to request a copy. Be sure to fill in the form completely and accurately; if you make any mistakes, the IRS may reject your amendment.
Attach Necessary Schedules and Forms
In addition to Form 1040X, you’ll also need to attach any other relevant forms and schedules. This includes any W-2s or 1099s you’ve received since you filed your original return, any additional income or deduction forms, and any other documents the IRS may require. Be sure to include copies of your original return and any schedules or forms you had to attach to it.
File Your Amendment
Once you’ve filled out and attached all the necessary forms and documents, it’s time to file your amendment. You can file your amended tax return by mail or electronically. If you’re filing by mail, you’ll need to send it to the IRS office that services your area. If you’re filing electronically, you can do so using the IRS Free File Program.
Wait for a Response
Once you’ve filed your amended tax return, all you can do is wait for a response from the IRS. It can take up to 16 weeks for the IRS to process your amendment, but it could be less depending on how many other amendments the IRS is processing at the same time.
Receive Your Refund or Pay Additional Taxes
The IRS will review your amended return and determine if you owe additional taxes or are due a refund. If you owe additional taxes, you’ll receive a bill in the mail and will need to pay the amount due. If you’re due a refund, you’ll receive a check in the mail.
Keep Track of Your Amendment
It’s important to keep track of your amended tax return. You should make a copy of the form and documents you sent to the IRS and keep them in a safe place. You can also use the IRS’s Where’s My Refund? tool to check the status of your amended return.
Amending Your Tax Return in 2023
Amending your tax return in 2023 is a relatively simple process. All you need to do is gather the necessary documents, complete the correct form, attach any relevant documents, and file your amendment. Once you’ve done that, all you can do is wait for a response from the IRS.