How Do I Correct My Return After Submitting It To The IRS ?

How Do I Correct My Return After Submitting It To The IRS ?

When you submit your income tax return to the IRS electronically, it is similar to placing it in the mailbox. You'll have to wait for the IRS to either accept or reject your return, which typically takes less than a week.

If the IRS rejects the return, you can make your changes and re-submit it electronically.

However, if the IRS accepts the return, you will have to file an amended tax return, using Form 1040X. The amended return cannot be filed electronically, but instead must be printed and mailed in.

Form 1040X can be used to amend Forms 1040, 1040A, or 1040EZ. You have 3 years from when you filed your original return to file Form 1040X.

If you owe additional tax due to the changes, you will likely have to pay penalties and interest on the unpaid taxes. You may also be at increased risk of audit in future years.

For more information on amending your federal income tax return, refer to these tips from the IRS website.