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What is Form 1040X - Amended Tax Return?
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tax return or if you find that you did not report some
taxable income on your tax return, you claimed tax deductions or tax credits you should not have
claimed on your tax return, you failed to claim
some tax deductions or tax credits you are entitled to on your tax return, or you should have used a different filing
status on your tax return, you should file an amended tax return. If you file an amended
tax return shortly before
the three (3) year statute of limitations expires and the amended tax return shows you owe
additional tax the IRS has sixty (60) days from the date it receives the amended
tax return to
assess any additional tax - even if the statute of limitations has expired.
The tax form you use to correct
a Form 1040, 1040A, or 1040EZ you already have filed is Form 1040X, Amended U.S.
Individual Income Tax Return.
If you file an amended
tax return and owe additional tax to the IRS, or you are assessed
additional tax by the IRS, you may also owe additional state income tax. The IRS shares
it's information with most states, and visa versa. You may be able to avoid interest and
tax penalties on your state tax return by promptly amending the state tax return. The reverse is also
true if your state tax liability increases. |
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Related tax
information Form 1040X - Amended Tax Return |
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| General Tax Questions |
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IRS publications about
Form 1040X - Amended Tax Return:
For additional information about Form 1040X - Amended Tax Return refer to
Tax
Topic 308, Amended Returns. For additional information on when, where, and how
to file, refer to Tax Topic 301. Also see
IRS Publication 17, Your Federal
Income Tax. |
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Ask Julian Block your IRS and tax questions! |
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If you can't find the answer to your IRS or tax question in our
web you can call former IRS Special Agent and one of the country's foremost tax attorneys, nationally syndicated columnist ("The Tax
Adviser") Julian Block. Julian is also the tax Editor of Mutual Funds Magazine, America's premier investment magazine. To
call Julian for a tax consultation click
here. |
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