IRS Amended Tax Return: An IRS Amended Tax Return is provided on occasions when there has been an issue in your tax filing and you have had to file a tax return again. This is required when the Internal Revenue Service finds an error like a calculation mistake or a wrong deduction in your filing. As a tax filer, it is very important for you to keep a track of your amended tax return as always. You can track your IRS-amended tax return status online at irs.gov. The process to check your amended return is shared in this article below, keep reading to know more.
The Tax Filing Season 2023 is very important for all tax filers in the US. Everyone is trying to make an error-free tax filing to avoid the amended filing process and thus get a hold of the tax return at the soonest. As this is crucial and anyone who has gone through this is already wondering how to file an amended tax return, you can read the article further to get all the details you need.
IRS Amended Tax Return
IRS Amended Tax Return 2023 is on its way for many who had filed their taxes at the beginning of the tax season and had also refiled the same for an amended return. The reasons to file for an amended return can be coming up from your deductions as well. As we dive further, keep reading to know.
IRS Amended Return Overview
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IRS Amended Return Overview |
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| Name | IRS Amended Return |
| Category | Finance |
| Official Website | www.irs.gov. |
| Retrieval Time | 3 weeks |
| Phone Application | IRS2GoApp |
How to File an Amended Tax Return
The process on how to file an amended tax return is mentioned below:
Step 1: Log into the online platform IRS at https://sa.www4.irs.gov/wmar/login or download the IRS2Go mobile application
Step 2: On the link find select the option ‘Where is my revised return’.
Step 3: Enter your Social Security Number of your Tax Identification Number along with your date of birth and Postal Code
Step 4: Check your updated status on the screen now
Please note these steps will work if you are a citizen of the US who has filed the amended tax return and has entered all the details without any error. The portal is updated regularly and makes it simple for tax filers the IRS has also created a mobile application called the IRS2Go app. You can download this application on your phone from google play or apple store.
What is an Amended Tax Return
When errors are found in your taxes filed at the IRS an amended return has to be filed to rectify them. As you file an amended return, you will receive the amended amount in your account. Now make sure that make no mistake in re-filling your taxes. The IRS is a department that makes sure that every error that the filers make is noted and all the details are made a note of. So if there is still an error you may file again.
An IRS Amended Return is also filed in case you have missed filing for a stimulus payment or credit which your account was qualified for.
The amended returns can be filed within three years of the tax filing year. Remember, if you have missed out on returns you will not be eligible to get them after the filing period prescribed by IRS is over or if you have missed filing for the taxes you will be booked under charges which can be criminal as well. So either way, it is very important to file for your amended tax returns.
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What is an Amended Tax Return
An amended tax return can mean that you have filed the taxes with errors and the IRS is giving you an opportunity to make the changes and re-file your taxes. Here are some reasons why you need to file for an amended IRS return:
- Revenue calculation is not done properly and does not match your documentation requirements
- The filing process used is incorrect, thus you have either missed an important form or not attached a relevant document
- You have claimed deductions that either are no longer provided or do not apply to your details. Make sure you check if a deduction is applicable to the citizens in the financial year of your application.
- Your application for a child tax credit is faulty and your documents do not prove the credit as per IRS. In cases like a child tax credit, even a minor error can make the IRS conduct a background check and thus you will need to re-file with valid documentation to prove.
These errors are not exclusive and many other issues can be found in your tax returns, as we know that the tax returns filed by you can be fault free at your end however if you have filed with consulting a financial advisor we suggest that you take the help of someone at the time of re-filing. Once your amended returns are approved you will receive the amount in your account.
Where is My Amended Tax Return
For those wondering where your amended tax return is, you need to wait for three weeks to get the return approved. The ideal time period in case no error is recorded is three weeks. Unlike the IRS Tax Submission which takes 7 – 8 weeks minimum to provide your return in the case of re-filing the time period is three weeks. Once the return is approved you will get the same within 14 working days in your account or via cheque as per your choice.
How to File Amended Tax Return
You can file the amended tax return on the online platform that is provided by the IRS and you can further detect the details on the irs.gov link shared in the overview box or you can head on to the IRS2Go app available for everyone.
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