Do you want to amend your returns for 2020 and don’t know how to go ahead then click on this guide by USTAXFiling to get more details on amending returns?

US Tax Returns – Should I File an Amended Return

When we start walking, initially we try to walk a few steps with our parents. The reason for taking the help of our parents is but natural that during our initial walking process, we might fall and get hurt. Unlike directly walking is not at all possible. The process takes place slowly and gradually. Similarly, when it comes to filing our tax returns with accuracy, it is quite natural that we will make mistakes and an option to correct our mistakes must be available. So, as the walking process takes place slowly, we can amend our filed tax returns during the previous three years. Let us know how it is possible to file our amended US tax returns step by steps:

When To File An Amended Tax Return

The taxpayer should file Form 1040X to ask for a refund within three years after the filing amended tax return date that individual files their return or within two years timeline after the date after tax is paid.

The reasons a person may wish to file an amended tax return varies such as:

  • New laws:  The amended tax return should be filed due to the amendment of new law or issuance of a refund as per the new regulations whichever is applicable
  • Missed forms:  K1 or W2 form was missed can also be a reason to file an amended tax return

For example, couples could take the benefit of the new law and amend their past year’s returns when same-sex marriage law became legal. But, in some cases like forgotten attachments and math errors, the IRS correct the errors as well as request for the forgotten attachments. Hence, in such a scenario a taxpayer does not require to file an amended return

How to File Amended Tax Return

Now, let us know about how to file an amended tax return. When you file the original returns then amended returns are filed by using form 1040X and now the good news is that with recent amendment you can e-file the amended returns. It means that it can be done in the online mode.

To fill out 1040X form:

  • You can fil the details from the original return
  • Next step is to mention the required changes
  • You have to describe the reason for the amendment
  • Then, simply attach supporting documents
  • You have to add the payment for any taxes lastly owing to lower penalty charges

Note: If there is any extra refund amount that you will get, then it is recommended to file the amended tax return once you receive the refund from the original one as the IRS will separately send the next amount.

What are the advantages and disadvantages of Filing an Amended Return?

Let us discuss some of the advantages and disadvantages of filing an amended tax return that include:


  • There is a possibility that taxpayer may feel that they have paid fewer taxes than the amount owing then the best option is to file amended tax returns as early as you can so to avoid any interest charges or penalties that may be charged as a fine. It is necessary for taxpayers to be proactive and file their amended tax return before time or receiving any notice from the IRS, which can result in a heavy penalty or severe action.
  • In case of refund, then it is necessary to file an amended tax return. But you must ensure that the amount is worth because, in case of a small amount, it is not a feasible option to fill out the forms and file the new return.


  • If any amount in refund is found owing then IRS may do a full audit. The IRS may check with everything, instead of reviewing the new changes made to the return. It might result in other issues which can cost you as a taxpayer, as it might not be the case only to return the money.
  • If a taxpayer owes more taxes then, they have to pay any penalties or interest added for the period from when the original return filed and the newly submitted amended return.
  • Filing should be within the specific time frame of three years from when the original return was filed especially if there is a refund in the amended tax return. So, you must make sure to file amended tax on time.

Processing Time

When you file tax returns at the tax season time then IRS processes refunds in 21 working days. But you file amended tax returns then you might expect that you will get returns in eight to twelve weeks or it may take sixteen weeks in some cases. You can easily track the tax return application status.

How can USTAXFiling One Stop solutions help you?

Before, doing any mistake, you must make sure that whether it is possible to correct that mistake. You can reach out to the tax experts at USTAXFiling One Stop for the filing of your U.S as well as India tax returns in an efficient and fast way. USTAXFiling One Stop Solutions is a legal firm to help customers file their amended tax returns. At UStaxFiling, we make sure to work ethically and transparently and help our clients file their US and India tax returns at an affordable cost. At USTAXFiling One Stop Solutions experts are there to help you file your tax returns anytime.

Table of Contents