Need To Correct or Amend Your Form 1040?

Taxpayers needing to amend or correct a 1040 Form – including Forms 1040-SS, 1040-NR and others, can now do so electronically.  Until recently, to do so required the filing of the amended or corrected returns on paper.  Changes not only regarding income or deductions, but changes to filing status or to add a dependent not previously claimed by the taxpayer can be made.

Not only does this make the filing of such returns easier for the taxpayers, it also enables the IRS to more quickly process the returns and avoid the backlogs experienced, especially since COVID.  There are approximately 3 million amended returns filed each year.

A new, electronic checkbox has been added for Forms 1040/1040-SR, 1040-NR and 1040-SS/1040-PR to indicate that a superseding return is being filed electronically. A superseded return is one that is filed after the originally filed return but submitted before the due date, including extensions.

Very similar to the “Where’s My Refund” option on irs.gov, there is an option of “Where’s My Amended Return” that can be utilized to check the status of an electronically filed Form 1040-X.

Forms 1040, 1040-NR and 1040-SR can still be amended electronically for tax years 2019, 2020 and 2021 along with corrected Forms 1040-SS and Form 1040-PR for tax year 2021.

Bottom line, file any returns electronically if the option is available.  Visit irs.gov to see if the return you’re filing is available for electronic filing.  Be on the alert for new electronic filing options as the IRS moves forward with expanding digital services.

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Established in 1876, Capehart Scatchard is a diversified general practice law firm of over 90 attorneys practicing in more than a dozen major areas of law including alternative energy, banking & finance, business & tax, business succession, cannabis, creditors’ rights, healthcare, labor & employment, litigation, non-profit organizations, real estate & land use, school law, wills, trusts & estates and workers’ compensation defense.

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