by Terry Mitchell

Created on: April 21, 2009

No one wants to receive an IRS audit. If the IRS discovers a discrepancy in your return, it could lead to future problems. If you find discrepancies in a previous return, the best thing you can do is file an amended tax return.

An amended tax return is usually filed if you need to make revisions to a previous tax return. Most people file an amended tax return because they need to correct their filing status. This will allow them to claim the deductions that were missed as a result of filing in the wrong status.

Form 1040x, the Amended U.S. Individual Income Tax Return, is used to file an amended tax return. This will correct the tax return filed under Forms 1040EZ, 1040A, or 1040. Processing time usually takes between 8 to 12 weeks. If you had simple mathematical errors, there is no need to file for an amendment since IRS computers automatically do the math and check for calculation errors.

The following tips and information should help you correctly file your amended tax return:

When filling out the form, clearly and concisely provide the reasons for making changes in your IRS return. Make sure you provide all of the required information. It is important to include the necessary forms and documentation.

The filing of the amended tax should only be done through mail since submission of form 1040X is not available electronically.

The form 1040x is divided into 3 columns; Column A indicates information on your original tax return; Column B provides information on the adjustments made; Column C indicates alterations made between columns A and B.

Do not forget to write the year of the tax return you are amending at the top of the form. Always double check the numbers and calculations. Indicate any change of address by checking the correct box.

After you have completed all needed information, double check everything for errors and then mail it to the IRS Service Center. Make sure you have written the correct address of IRS in your area. An IRS agent will review your file to confirm that you have provided enough information regarding your request for revision.

Pay the IRS the amount you owe before they impose penalties and additional interest. Never make any claims that you cannot validate since you might end up with a more serious problem.

In some situations, the IRS may require an audit of your amended tax return due to insufficient information. To avoid going through the process, make sure that all the claims you have provided can be substantiated by the documents you have attached to form 1040x.

Filing an amended tax return is beneficial if you have to make corrections to your tax return. Such corrections can include changes on your deductions, recalculations of tax credits, or removal of previous dependents. When filing an amended tax return, being careful will go a long way.

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