Amended Tax Returns

Everyone knows that filing taxes can be confusing, especially in years where major life events have happened. No one wants a simple mistake to cause major problems with the Internal Revenue Service. If an individual files taxes without the assistance of an experienced accountant or tax service to guide them, they may find that they have made a mistake. If an individual does make a mistake on their tax return, they may be able to file an amended return.

Individuals may have to amend their tax return if there has been a change in income, deductions, credits, or filing status. In order to file an amended tax return, the taxpayer will be required to submit Form 1040X, which is called the Amended U.S. Individual Income Tax Return. This form can be accessed on the Internal Revenue Service website and should be filed within 3 years from the date in which the original tax return was filed. A taxpayer may also file this form within 2 years after the date the tax was paid. Whichever date is later is the taxpayer’s deadline to file. It typically takes 16 weeks for the IRS to process Amended Returns.

It is very important for individuals to ensure they handle matters related to taxes and the IRS very carefully and legally. The guidance of an experienced team of tax professionals is highly recommended. If you have questions about an amended tax return or other concerns about your taxes, contact Werdann DeVito LLC today to schedule an appointment.

Werdann DeVito LLC is an experienced Certified Public Accountant firm serving clients throughout New Jersey with all of their financial needs. If you need quality assistance with accounting, tax, or consulting services, contact Werdann DeVito LLC today.