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Generally, you must file an amended return within three years from the date you filed your original return or within two years from the date you paid any tax due, whichever is later.
If you filed your original return before the due date usually April 15 , it's considered filed on the due date. There are a number of special due-date rules for amended returns that are based on changes related to bad debts, foreign tax credits, net operating losses, natural disasters, service or injury in a combat zone, and a few other situations—check the instructions for Form X for details.
Don't file your amended return too quickly, though. If you're due a refund on your original return, wait until you actually receive the refund before filing an amended return for that tax year.
It's nice if amending your return results in a refund, but, unfortunately, that's not always the case. If you owe the government money as a result of filing an amended return, pay the tax right away to avoid additional interest and penalties.
You can pretty much count on paying some interest, since the IRS charges interest on any taxes not paid by the due date.
But you can minimize the amount of interest you'll be charged by paying the tax owed quickly. The penalty is usually equal to 0. However, the IRS might waive the penalty if you have a very good reason for not paying your tax on time. There are several ways to pay any tax due.
You can pay online or by phone, mobile device, cash, check, or money order see the instructions for Form X for details.
If you can't pay the full amount right away, the IRS recommends asking for an installment agreement that will allow you to make monthly payments. You'll still pay interest and penalties, and probably a fee to set up the agreement. Other, potentially less costly alternatives include bank loans or credit card payments.
You can get the status of your amended returns for the current tax year and up to three prior years. The automated system will tell you if your return has been received, adjusted, or completed. All you need is your Social Security number, date of birth and zip code to access the system.
It can take up to three weeks from the date you mail your amended return for it to show up in the IRS's system. After that, it generally takes eight to 12 weeks for an amended return to be processed, but in some cases it can take 16 weeks or longer—so you have to be patient. Now let's get into some of the more common reasons why you might want to file an amended return.
Many people file one to claim an overlooked tax deduction or credit. The tax code is chock full of tax breaks, so it's easy to miss one that applies to you. If you discover a deduction or credit that you qualify for after filing your original return, simply file an amended return within the three-year period described above to claim it now and get a refund. It might not be worth the effort if it's only going to reduce your taxes for that year by a few bucks, but you do have the option.
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Tax information center : Filing : Personal tax planning. Alabama Income Tax Looking for information on Alabama state income tax? ITA Home After filing your original return, you may determine that you made an error or omitted something from your return. Information You'll Need: Reason for making a change to a previously filed federal income tax return Note: Use this tax tool only if you're amending one of the following forms: Form , U.
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