Top 10 Facts about Amending Your Tax Return

1

You Need to File – You should file an amended return if the following was reported incorrectly on your original return: your filing status, dependents, total income, deductions, or credits.

2

You Don’t Need to File – An amended return is not usually necessary for math errors or requests for missing forms.

3

Form – 1040X is used to amend your tax return (1040, 1040A or 1040EZ)

4

Multiple Amended Returns – each year should be on a separate form and mailed in separate envelopes.

5

Other Forms & Schedules – Any affected forms should be included with the 1040X.

6

Additional Refund – You should wait until you receive your original refund before amending for an additional refund.

7

Additional Tax – If you owe additional tax, you should file and pay as soon as possible to limit interest and penalties.

8

When & How – Amended returns should be filed within 3 years from the date you filed your original return or within 2 years from the date you paid the tax, whichever is later. You must mail your amended return; amended returns cannot be filed electronically.

9

Processing Time – normal processing time is 8 to 12 weeks.

10

Who to Call – Loggins & Associates! We can help you determine if you should file an amended return and assist you with preparation of the return.

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