How Do You Correct Federal Tax Returns?
If you have filed your federal tax return and discovered an error, you may need to file an amended federal tax return. For simple errors such as a miscalculation or a missing schedule, you do not have to file an amended return. The IRS website advises that errors in filing status, income, credit and deductions are the instances when filing an amended federal tax return is necessary. If the correction results in you owing more money, then you need to file the amended return by April 15 of the following year to avoid interest and penalties. Review your federal tax return to be sure that it needs to be corrected. For instance, if you have a simple math error the IRS will correct it for you and there is no need to file an amended return. Obtain form 1040X to file an amended tax return. This form can be downloaded for free from the IRS website. An instruction booklet is also available for download. Alternatively, you can call the IRS at (800) 829-3676 for the forms. Explain on the form why
