INDIANAPOLIS—Taxes are due on Monday April 15.
In this week’s Tax Tip Tuesday, WRTV’s Kara Kenney explains what you can do if you make a mistake on your tax return.
You should file an amended return if you:
- Used the wrong filing status
- Didn’t report all your income
- Miscalculated your tax liability
- Took advantage of credits or deductions you weren’t eligible for
- Did not take advantage of all the credits/deductions you are eligible for
Stacy Engle, an IRS spokesperson based in Indianapolis, said it’s important to correct your tax return.
"The number one thing is if you didn't report all of your income,” said Engle. “We want you to amend it so you can pay the correct amount of tax. If you overstated your tax, we want you to file an amended return or if you filed but didn't take advantage of credits that would have put money in your pocket, we want you to file an amended return, because that's money you could use."
Engle said you can file an amended return for up to 3 years, but if it's older than 2021 you need to do it on paper.
If you're not sure if you need to file an amended return, you can use the IRS Interactive Tax Assistant, which is an interactive tool that can answer a lot of questions.
The IRS form for amending a return is Form 1040-X, however, you’ll also need any forms that will be impacted by your changes.
If you're not sure if you need to file an amended return, you can use the IRS Interactive Tax Assistant.
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You can also try calling the IRS at 1-800-829-1040.
