Tax season can affect anyone. Among so many numbers, invoices, deductions and exemptions, it is possible that the taxpayer makes a mistake. In fact, there are several people who, after filing their return, notice that they need to modify something more than a mathematical account. In this case, they must make an amended declaration.
To sum up, When should an amended return be filed? Well, Form 1040X is filled out and filed with the IRS when the taxpayer needs to make important changes, such as taxable income, deductions claimed, tax credits, or even filing status.
Generally, anyone can file their amended return with the help of a tax filing program or perhaps make the correction electronically. There is also the option to download the form, fill it out and send it to RS by post.
How to know where your amended return is or what is your processing status? Easy: by calling or using the “Where’s My Amended Return?” tool. from the IRS.
What is an amended return?
An amended return is a mechanism the IRS has created so taxpayers can correct major errors on their first return. To do so, Form 1040X must be filled out. Today, you will be able to file the form electronically, but this option is only available starting in 2020.
Remember: If you are updating several returns from different tax years, we recommend that you fill out a Form 1040X for each of them. In addition to the fact that the IRS advises it, the system only allows you to file up to three amended returns.
Where is my amended return?
Any taxpayer can track the status of their amended return, either using the IRS electronic tool or by calling. Just keep in mind that for the status of your amended return to be reflected in the system, at least three weeks must have passed since it was sent.
Remember: The IRS takes 14-18 weeks to process an amended return. If after this time you have no news about your return, we recommend you contact an IRS representative.
Using the phone or the Internet, you will be able to do a little more than trace your return. And it is also:
- You will be able to confirm that the IRS has received Form 1090X.
- You will be able to calculate how long it would take to complete the procedure.
How to track it online?
In order to use and access “Where’s My Amended Return?” IRS you will need to have certain information at hand, for example:
- your zip code
- Your date of birth
- Your Social Security number or any other taxpayer identification number
Note: If you do not have an SSN, an ITIN number will also work for you.
This information is requested by the IRS to certify your authenticity, that is, that you are the person you say you are. Once you successfully pass the authentication process, the platform will display a timeline with the status of your amended return:
Important: The system will only show you the current amended return and up to three of the previous returns. If your return does not appear in the system, don’t worry! Remember that it can take up to three weeks from the date of sending for it to be reflected and also that the IRS takes about 16 weeks to process it. Also, the platform is updated once a day. If you don’t see the status of your return and the corresponding weeks have passed, try the next day!
How to track her by phone?
The IRS often says that if your return status doesn’t appear in the system, you may not be able to do anything by calling the hotline. However, there are some declarations that the platform cannot access. It is because of that, If after three weeks you do not know anything about your statement, we recommend you call toll-free 866-464-2050.
Remember: The IRS representative will ask you for certain information to verify your identity. As in the previous case, you will need your zip code, date of birth and SSN.
COVID-19 case: The IRS has informed taxpayers that documents that have been mailed are processing slower than usual; This is due to the collapse of the postal system and the confinement or health recommendations related to the pandemic.
Tip to avoid losing your amended return
Although you can send your amended return by mail, we recommend you do it with an acknowledgment of receipt. Thus, you will have an evidentiary support that will allow you to verify that the IRS has received your 1040X form.
Additionally -and as an extra advantage- having a receipt on hand could save you from charging interest for late payment or the much-feared fines from the IRS.
Did you hire someone to do your amended return?
Taxpayers with simple, uncomplicated financial lives can venture out to file their amended return on their own. But nevertheless, If your original return has many errors, you may want to consider hiring a tax professional..
If you left everything in the hands of a tax specialist and you don’t know where your amended return is, contact him immediately! It is possible that, due to human error, non-payment of fees, or simply lack of information, the company has not yet submitted the 1040X form to the IRS.