Amended Return

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Definition of 'Amended Return'

An amended return is a tax return that is filed after the original return has been submitted. It is used to correct errors or omissions on the original return, or to report new information that was not available at the time the original return was filed.

There are a number of reasons why you might need to file an amended return. For example, you may have forgotten to claim a deduction or credit, or you may have made a mistake in your calculations. You may also need to file an amended return if you have received a refund from the IRS and you owe additional taxes.

The process of filing an amended return is similar to the process of filing an original return. You will need to complete Form 1040X, Amended U.S. Individual Income Tax Return. You will also need to attach any supporting documents, such as receipts or canceled checks.

Once you have completed the amended return, you will need to mail it to the IRS. The address for filing an amended return is:

Internal Revenue Service
Cincinnati, OH 45999

You should allow at least 4 weeks for the IRS to process your amended return. If you need to check on the status of your amended return, you can do so online at the IRS website.

It is important to note that you may have to pay a penalty if you file an amended return after the due date of your original return. The penalty is usually 5% of the amount of tax that you owe, plus interest. The penalty may be waived if you can show that you had reasonable cause for filing the amended return late.

If you are not sure whether you need to file an amended return, you should consult with a tax professional.

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