What is IRS Form 1040-X?
IRS Form 1040-X is the form you fill out to amend or correct a tax return. It's also known as an amended tax return corrects mistakes on a federal tax return. On that form, you show the IRS your changes to your tax return and the correct tax amount.
If you’re fixing more than one year of returns, you’ll need to fill out a separate Form 1040-X for each. You’ll also need to include forms or schedules affected by the changes.
If you're filing Form 1040-X to get money back, you generally need to do so within three years of filing your original return or within two years of paying the tax, whichever is later.
You might catch an error before the IRS does, or you might receive new tax documents after you’ve already filed — if your employer sends you a revised W-2, for example. In those cases, don’t fire off a letter to the IRS saying, “Forgot to include some income. Here’s 10 bucks" or "You owe me $50." Fill out Form 1040-X.
How you can benefit from 1040-X?
When you use Form 1040-X to claim additional deductions or credits or to correct an error that reduces the amount of tax you owe for that year, the Form 1040-X serves as your formal claim for a refund. Additionally, many small business owners can use the form to carry back net operating losses that occur in one of the subsequent two tax years. The IRS notes that it takes approximately eight to twelve weeks to process amendments, so be on the lookout for your refund after this time.
Who can file Form 1040-X?
A 1040-X form should be filed by anyone who has already filed a tax return and needs to amend it for any of the following reasons:
To correct Form 1040, 1040-SR, or 1040-NR. Most taxpayers use one of these three forms to file their annual tax returns.
To make an election after the deadline. For example, a married taxpayer can elect to file as an individual or jointly with a spouse.
To change an amount that was previously adjusted by the IRS
To make a claim for a carryback due to a loss or unused credit
What information do you need to prepare Form 1040-X?
The most helpful document you need when preparing Form 1040-X is a copy of the original tax return you’re amending. You can transfer some of the original information onto the amended tax return, such as
Social Security numbers,
your filing status, and
You also need any documentation that relates to your changes. This can be a number of items such as proof of payment for a new deduction you are claiming or an additional W-2 for additional income you need to report. If you attached any schedules to the original return, you don't need to complete these again unless your amendments cause the numbers on it to change.
FAQs about IRS Form 1040-X
Q1: Do You Have to File Form 1040-X With Form 1040?
You have to file Form 1040-X after filing your 1040, 1040-SR, or 1040-NR. You're amending your earlier tax return with the correct information.
Q2: Where Do You Send Form 1040-X?
If you e-filed your annual return, you can now e-file a 1040-X using commercial tax preparation software. That's the fastest way to get your money back if you're owed any. You can send it in the mail if you prefer. The IRS lists four separate addresses for use by residents of different regions and for Americans living abroad.
Q3: Can Form 1040-X Refunds Be Direct Deposited?
No. Direct deposit is not currently available for refunds based on amended returns. You'll get a check in the mail from the IRS.
Q4: When Should I Receive My Amended Tax Return?
The IRS says it can take up to 16 weeks (20 weeks as of 2022 due to delays caused by the coronavirus pandemic) to process an amended return even if it's filed electronically. About three weeks after you file the 1040-X, you can start checking the status of your filing on the IRS website on its Where's My Amended Return? page.
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