When to File an Amended Tax Return

          After filing your tax return, you may have found that there is an error. Do you need to file an amended tax return? The Internal Revenue Service (IRS) provides some guidance on that. The original tax return must be processed before an amended one should be submitted.

          The IRS is already overwhelmed with documents that it needs to process, and does not want anything unnecessary. They are making automatic adjustments for those who were reported all unemployment income before changes were made by the American Rescue Plan (ARP). It can take a few weeks before the refund is processed. Basic math errors can be corrected and are not reasons for an amended return.

          However, there are definite situations when filing an amended return is needed. If income is entered incorrectly, deductions are taken incorrectly, or eligible tax credits are not taken then an amended return is needed. At that point, getting help from a Qualified Tax Professional might be a good choice.

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