WHAT IS AN AMENDED TAX RETURN?

You may need to file an amended tax return if you used an incorrect or less beneficial filing status, did not report all of your income, claimed too many, or not enough dependents, didn't claim all credits or deductions applicable to you, or realized you claimed an expense, deduction or credit that you weren't eligible to claim.

You have within three years from the original filing deadline or within two years of paying the tax due for that year, if that date is later.

If your amended tax return resulted in an increase in your tax refund amount, the IRS will issue you an additional refund. This refund will be the difference between the original amount and the adjusted, higher refund amount. 

If amending your tax return results in more taxes owed, you will need to make an additional payment or payments. 

You should generally allow 8 to 12 weeks for your Form 1040-X to be processed. However, in some cases, processing could take up to 16 weeks. It usually takes about three weeks for an amended return to show up in the IRS system.

More than likely. If an amendment was made to your federal tax return, then your state may need to be amended also. Each state has its own amendment form.

Yes. If you need to amend your Form 1040, 1040-SR, 1040-NR, or 1040-SS/PR for the current or two prior tax periods, you can amend these forms electronically using available tax software products. 

Any amended Form 1040, 1040-SR, 1040-NR or 1040-SS/PR returns older than the current or prior two tax periods cannot be amended electronically. Amended returns for those earlier tax years must be filed by paper. If amending a prior year return originally filed on paper during the current processing year, then the amended return must also be filed on paper.

The IRS allows you to file up to three amended returns per tax year. If you file a third amended return that is accepted, all subsequent attempts will be rejected.