The Internal Revenue Service (IRS) has announced that taxpayers can now file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products. Form 1040-X is used to amend various versions of an individual’s Form 1040.
Providing the ability to electronically file a Form 1040-X had been a goal of the IRS for a number of years, according to the agency. The IRS also noted that tax professionals had long been recommending this change. Until the change, taxpayers had to mail a completed Form 1040-X to the IRS for processing. This new electronic option allows the IRS to receive amended returns faster while minimizing errors normally associated with manually completing the form.
“This new process is a major milestone for the IRS, and it follows hard work by people across the agency,” said IRS Commissioner Chuck Rettig. “E-filing has been one of the great success stories of the IRS, and more than 90% of taxpayers use it routinely. But the big hurdle that’s been remaining for years is to convert amended returns into this electronic process.”
According to the IRS, taxpayers file about 3 million individual amended returns each year. According to the agency, the new electronic filing option will provide the IRS with more complete and accurate data in an easily readable format to enable customer service representatives to answer taxpayers’ questions. Taxpayers still have the ability to use the “Where’s My Amended Return?” online tool to check the status of their electronically-filed 1040-X.
As of now, you can file a Form 1040-X electronically with tax filing software to amend tax years 2019 or 2020 Forms 1040 and 1040-SR. To have the ability to electronically file Form 1040-X, you must have e-filed your original 2019 or 2020 return. Additional enhancements are planned for the future, according to the agency.
If there has been a change that you think might require an amended return, let us know, and we can walk you through the simplified process.
If you need assistance or have any questions on the information in this article, please call your CironeFriedberg professional. You can reach us by phone at (203) 798-2721 (Bethel), (203) 366-5876 (Shelton), or (203) 359-1100 (Stamford) or email us at info@cironefriedberg.com.
