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Submitting an Amended Denver Tax Return

April 20, 2016

Occasionally we all make a mistake on our taxes if we are accustomed to doing them ourselves. Sometimes our employment circumstances change, we make a typo on the return, we miscalculate something, we get confused by the directions, or we have to use a form we’ve never used before - basically, there are a ton of ways any one of us could make a mistake on our tax return. Generally the IRS simply fixes small mistakes for us, though it can take them quite some time. Other times, the IRS expects us to fix our mistakes ourselves, and we must file an amended tax return. Filing an amended tax return can be a tricky process, and some of us may not feel comfortable doing the paperwork ourselves and risk making another mistake. The best Denver tax specialists can help you filing an amended tax return.

To get an idea of whether or not you would like to do it yourself, here are several steps and tips that you need to take in order to file an amended tax return:
  1. You need a form 1040X if you filed a 1040, 1040A, or 1040EZ. It is available for download on the IRS website. It can be modified on your computer and printed at home.
  2. If you download the tax return form and want to take a break while filling it out, do not close the document. Saving it to your computer only saves the blank document, not your changes.
  3. You cannot submit amended tax returns online, so you have to check for the address to send your return to according to where you live in your state. Make sure you send it to the correct address, or there will be a serious delay in getting your return.
  4. You generally do not need to file an amended tax return over a simple math error, because the IRS will fix them for you, even though it could result in requiring a little extra time to get your return. Check the status of your refund on the IRS website.
  5. If your error was that you forgot to attach your W-2, 1099, or other tax documents, you don’t have to rush to file an amended tax return. The IRS will contact you with a request for the documents and the address you can send it to.
  6. Make sure you write the year that you are filing the amended tax return form for, not the present year. You must do this within three years of filing or two years of paying a tax, whichever is later.
  7. If you are amending more than one tax return, you must fill out a separate 1040X for each year you are amending. You must mail these in separate envelopes.
  8. The 1040X instructions provide the list of addresses that you will need to mail your forms to depending on where you live.
  9. If the changes require another schedule or a different form, you must attach those to your 1040X before you mail them in.
  10. If you owe money on your taxes, make sure that you calculate how much you owe correctly.
  11. If possible, submit payment for any owed taxes with the 1040X.
  12. If you are unable to make the full payment, arrange a payment plan with the IRS so your taxes do not go into collections.
  13. You must pay the full amount by the due date unless you work out a different plan with an IRS agent.
  14. If in doubt about any part of the 1040X or submission process, consult an accountant or contact an IRS agent to make sure that you do everything correctly.
If you decide to have a Denver accountant file an amended tax return for you, we suggest viewing the 1040X, identifying which parts need amending, and compiling everything together before your accounting visit. This will make the process much faster and smoother for your accountant. Bloch, Rothman & Associates will be able to get you back on track with the IRS in no time if you don’t feel confident in your own abilities. Contact us today!