Whew! The rush is over once your personal income tax return is completed for another year – or so you thought, right up until the moment you discover information you forgot to include.
Now what?
The action you take depends on the type of information you forgot. For instance, say you reported all your income on the return you mailed to the IRS….but now you realize you neglected to attach a copy of your wage statement.
In this case, doing nothing is the best option. You’ll eventually get a notice from the IRS requesting the missing form.
Other mistakes, such as omitting income or deductions, or deciding you’re eligible for a credit you didn’t claim may require amending your return.
To do this, you’ll need to complete Form 1040X. Explain any changes and mail the form to the IRS after you original return has been processed. At present, e-filing is not available for Form 1040X, so you’ll have to use a paper return, even if you submitted the original electronically.
As a general rule, Form 1040X has no set due date. But if the information you left off increases the amount of tax you owe, filing promptly can help reduce interest and penalties.
When the correction results in less tax, you’ll need to file before the time for claiming your refund expires (usually three years from the due date of the original return). Please contact your tax professional if you find additional information after filing your federal and state tax returns. They should be glad to help you make any necessary changes.
FAQs
You can rectify the matter by filing an amended income tax return for the year in question. If you discover a significant error, you will certainly need to file Form 1040X, Amended U.S. Individual Income Tax Return. This form is for correcting information on the return as it was originally filed.
What happens if I forget something on my tax return? ›
In this case, doing nothing is the best option. You'll eventually get a notice from the IRS requesting the missing form. Other mistakes, such as omitting income or deductions, or deciding you're eligible for a credit you didn't claim may require amending your return. To do this, you'll need to complete Form 1040X.
What do I do if I forgot to add something to my tax return? ›
If you need to make a change or adjustment on a return already filed, you can file an amended return. Use Form 1040-X, Amended U.S. Individual Income Tax Return, and follow the instructions.
What happens if I forgot something on my tax return TurboTax? ›
After you receive your refund -approximately three weeks after your return is accepted, you can amend your tax return, by filing Form 1040X. To do this, you will log back into TurboTax and select the option "I need to amend my tax return."
Who is responsible for tax return mistakes? ›
Taxpayers are liable for most tax filing errors even if they worked with a tax preparer. Depending on the type of mistake, a taxpayer may be able to file a complaint to the IRS.
What happens if I make a mistake on my tax return? ›
What if you've sent in your income tax return and then discover you made a mistake? You can make things right by filing an amended tax return using Form 1040-X. You can make changes to a tax return to capture a tax break you missed the first time around or to correct an error that might increase your tax.
Does the IRS catch all mistakes? ›
Does the IRS Check Every Tax Return? The IRS does not check every tax return; in fact, it does not check the majority of them; however, the IRS implements methods that track certain factors that would result in a further examination or audit by them.
How much does it cost to amend a tax return? ›
It does not cost anything to fill in and mail a tax amendment.
Is H&R Block responsible for mistakes? ›
If the H&R Block tax preparation software makes an error on your return, we will reimburse you for any resulting penalties and interest up to a maximum of $10,000. Terms and conditions apply; see H&R Block's Accurate Calculations Guarantee for details.
What happens if you forget to file one of your tax returns? ›
You risk losing your refund if you don't file your return. If you are due a refund for withholding or estimated taxes, you must file your return to claim it within 3 years of the return due date. The same rule applies to a right to claim tax credits such as the Earned Income Credit.
Taxpayers may need to file an amended return if they filed with missing or incorrect info. If they receive the missing or corrected Form W-2 or Form 1099-R after filing their return and the information differs from their previous estimate, they must file Form 1040-X, Amended U.S. Individual Income Tax Return.
Will I get audited if I forgot W-2? ›
Will I get audited if I forgot a W2? If you forget to include a W-2 when you file your taxes, the IRS may audit you to determine if you owe taxes. If you will out a 1040x and let them know about the situation and take proper steps to resolve the issue, you likely won't be audited.
How long do I have to amend a tax return? ›
Generally, to claim a refund, you must file an amended return within 3 years after the date you filed your original return or 2 years after the date you paid the tax, whichever is later. If you filed early, count from the April tax deadline.
Can you get in trouble for tax mistakes? ›
Underpayment may happen if you don't report all your income or you claim deductions or credits for which you don't qualify. We apply 2 common accuracy-related penalties to individuals: Negligence or disregard of the rules or regulations. Substantial understatement of income tax.
Who do I call if I made a mistake on my tax return? ›
If you discover an error on a previously filed return, you should file an amended return and pay any additional tax or fee due, including interest. If you have questions, please contact our Customer Service Center at 1-800-400-7115.
Does the IRS forgive mistakes? ›
If the IRS believes you were trying to cheat, you could face a civil penalty of 75% or even criminal prosecution. And remember, most criminal tax cases start with civil audits. Innocent mistakes can often be forgiven if you can show that you tried to comply and got some advice.
Will I get in trouble if I forgot to file taxes? ›
If your return wasn't filed by the due date (including extensions of time to file): You may be subject to the failure-to-file penalty, unless you have reasonable cause for your failure to file timely.
What if my tax return is missing information? ›
To fix a return that the IRS says is missing information, you'll need to file an amended or corrected return using a 1040X tax form as soon as possible.
What if I forgot to include a tax deduction? ›
Typically, a tax reduction or increased refund will be allowed if the CRA is satisfied that it would have been allowed on the original return and the adjustment you are requesting is correct in law. That said, not all refund or adjustment requests will be allowed.
Can I edit my tax return after submitting? ›
Most individual tax returns can be amended by mailing in a Form 1040X. This form amends a previously filed Form 1040, Form 1040A, or 1040EZ Forms. You can use this Form 1040X if there are changes in your filing status, income, credits or deductions.
