Your life is constantly changing, whether you get a new job, buy a new house or even start your family and have a baby. There are plenty of things that could happen that could affect your filing status on your taxes. Usually, the IRS can correct small things, but if there is a change in your filing status, income, credits, deductions or dependents, then we can help you file an amended tax return!
Amended tax returns can’t be filed electronically, so you will have to file everything by paper. You will have to file Form 1040X to correct a previously filed 1040, 1040A or 1040EZ, and you have to do so within three years of filing the original return – so get on it!
There are a lot of things to know before filing an amended return. To get you started, you should wait until you have received your original refund before filing an amended return. If you owe additional taxes, you should file the 1040X and pay the tax before the due date, just to limit interest or any penalty charges.
Your state tax liability may also be affected by a change made on your federal return. Call Selby Tax & Accounting Services at 616-613-3222 to set up an appointment so we can walk you through exactly what you need to do when filing an amended tax return!