No matter how hard we try, from time to time we find the need to correct a past mistake or pick up an extra deduction that we missed on the first tax filing go around. Fortunately filing an amended tax return is easier than you might think. With the help of Taxbrain, you can quickly make the changes to your existing filed return and prepare the 1040X Amended Return Tax Return. One thing to keep in mind, amended returns cannot be filed electronically and can take up to three months for the IRS to process.
If you already filed and realize you need to make a change, here are some helpful tips on where to start!
If you prepared and filed your return on Taxbrain
Making changes is easy with these simple steps:
- Access the completed return in your Taxbrain account
- Click on the “Amend” link to the right of your completed return name
- Taxbrain will create the amended 1040X return and put it under “Unfinished Returns”
- Open the return, make your updates
- Print the return and mail it to the address provided
Need help? Contact our Customer Support team to get started at 1-866-Taxbrain (1-866-829-2724)!
If you didn’t use Taxbrain to prepare and file your return
No problem! We can help you prepare your amended return and we’ll waive all fees!
Contact our Customer Support team to get started at 1-866-Taxbrain (1-866-829-2724)!
Filing an Amended Return
1. Use Form 1040X if you filed your tax return using one of the following Forms: 1040, 1040A or 1040EZ. Along with this form, you’ll need to include:
- A copy of the return you are amending, supporting forms, schedules and any worksheets you completed;
- Any notices from the IRS on any adjustments to that return; and
- Instructions for the return you are amending. If you don’t have the instructions, you can order them by calling 1-800-TAX-FORM (1-800-829-3676) or find them online at www.irs.gov/formspubs.
2. Complete it by paper and mail it to the IRS address for filing Form 1040X.
3. For each year you are correcting, you’ll have to file and mail a separate amended return. Be sure to enter the year of the return you are amending at the top of Form 1040X.
4. If the changes involve another schedule or form, attach them to the amended return.
Finally, if you’re expecting a refund from a recently filed tax return, you must wait until you receive it before filing an amended return. Once you receive it, you may cash that check while waiting for any additional refund. Processing time for amended returns typically take 8-12 weeks.
If you owe additional balance, to avoid further late fees and penalties, include your payment with the 1040X Amended Return. Otherwise, contact the IRS directly to arrange a payment plan.
For complete details, see the IRS Instructions for 1040X.
Not using Taxbrain yet and still confused about amendments? Don’t worry – We will do our best to help you navigate through this complicated process. For more info, visit Taxbrain today.