Get File Or Amend My Returnwashington Department Of Revenue

Filing an amended tax return is like getting a second chance at any tax benefits you might have missed out on the first time. Of course, it may also mean you end up owing more tax. Being aware of the situations that can trigger an amended return could help you avoid making a mistake you'll have to correct later.

You won't receive a penalty, and no interest will accrue. And, there are exceptions to that amended tax return deadline. Contrary to the common perceptions about the IRS, the agency can actually be pretty reasonable when it comes to honest mistakes, especially if it's the first mistake you've made.

Don't underestimate the benefits of filing an amended return, either. By making sure your tax return is accurate, you can maximize your refund or lower what you owe. You'll also reduce the risk of receiving a notice or IRS audit in the future.

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.

Disadvantages of an Amended Tax Return There is, however, a three-year statute of limitations for issuing tax refund checks. Therefore, the taxpayer must file any amended returns that will result in a tax refund within three years after the date they filed the original tax return.

Note: filing an amended return does not affect the selection process of the original return. However, amended returns also go through a screening process and the amended return may be selected for audit. Additionally, a refund is not necessarily a trigger for an audit.

In the ITR utility, choose the 'Section' as Revised return under section 139(5)' and 'Filing type' as 'Revised'. 5. Enter the 'Acknowledgement Number' and 'Date of filing' of the Original Return filed. Note: It is mandatory to enter a 15 digit Acknowledgement Number while filing the revised return online.