Filing an Amended Return

Finished filling out your tax return and realized you made a mistake? Don’t panic. The good news is you can fix your mistake by filling out a Form 1040X, an amended return. The only downside to filing an amended return is it cannot be electronically submitted. The file must be completed on paper and mailed in.

If you are expecting to get a refund from your originally filed return, wait until you have received the refund before filing the amended return. However, if you owe more taxes, file the amended return immediately to avoid any additional penalties and interest. It may be possible to file an amended return for a previous year also. If you need to correct a mistake from a previous tax year, you can file an amended return within three years from the due date of the original return.

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About benefitsboard

Art Rhodes is the President and CEO of the Church of God Benefits Board, Inc. - the administrator of the Ministers' Retirement Plan and the Church Loan Fund, Inc. The corporate offices of the Benefits Board are in Cleveland, TN.
This entry was posted in 04 - April 2014, Internal Revenue Service, Tax Information. Bookmark the permalink.

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