Form 1040-X, Amended U.S. Individual Income Tax Return Definition

What Is Kind 1040-X, Amended U.S. Particular person Revenue Tax Return?

The 1040-X, Amended U.S. Particular person U.S. Revenue Tax Return is a kind utilized by taxpayers who must appropriate an error in a beforehand filed federal tax return. Frequent errors corrected with this type embody errors within the taxpayer’s submitting standing or variety of dependents or omissions of credit or deductions. Kind 1040-X shouldn’t be used to appropriate easy mathematical errors in a tax return, because the Inner Income Service (IRS) routinely corrects such errors whereas processing returns.

Who Can File Kind 1040-X?

A 1040-X kind needs to be filed by anybody who has already filed a tax return and must amend it for any of the next causes:

• To appropriate Kind 1040, 1040-SR, or 1040-NR. Most taxpayers use considered one of these three kinds to file their annual tax returns.
• To make an election after the deadline. For instance, a married taxpayer can elect to file as a person or collectively with a partner.
• To alter an quantity that was beforehand adjusted by the IRS
• To make a declare for a carryback on account of a loss or unused credit score

How you can File Kind 1040-X

This kind is an itemized, line-by-line description of all doable changes, so the taxpayer can clearly document the precise sort and quantity of every modification and enter a quick description of what’s being amended and why.

The filer should embody not solely the 1040-X however a revised model of the whole 1040 or 1040-SR, together with any connected kinds and schedules, even when they weren’t amended.

Taxpayers can e-file a Kind 1040-X or ship it to the IRS by mail. Kind 1040-X can solely be filed after an annual return is filed.

With a purpose to obtain a credit score, taxpayers should file a 1040-X kind inside three years after the unique return was filed or inside two years after the tax was paid, whichever is later.

The IRS gives the next tricks to taxpayers about Kind 1040-X:

• Watch for the primary refund, in case you have been due one. In case your unique tax return included a refund, you must wait till you get it earlier than submitting Kind 1040-X. The IRS will concern a separate, second refund whether it is warranted, so be at liberty to money the primary examine.
• File a 1040-X kind inside the three-year modification time interval. If the change will have an effect on your refund quantity, you need to file the shape inside three years from the date of your unique tax return or inside two years from the date of paying the tax quantity, whichever is later. Any returns filed early shall be thought of filed on the official deadline date for submitting taxes, which is normally April 15 of the calendar yr.