How does an Amended Tax Return work?There are special forms that you use for filing an amended tax return. Usually if there is a change in one of the major areas of you taxes, e.g. filing status, deductions, credits, etc., you will need to amend your return. If after you make your changes, you end up owing tax, and the date has not passes, you will need to make sure it is paid by the regular due date. Unless of course the due date falls on a weekend or Holiday, then it is the next day. If you are changing your tax return, and you are to receive an additional refund, then they have to be filed within 3 years after the date you filed it or 2 years after the date that the taxes were paid. The usual turnaround time for an amended tax return is 12 weeks. It can take longer sometimes, if there are errors.
Business Amended TaxesFiling a business amended return is similar to filing an individual one. If there is an error in your calculations, the IRS will likely find it and correct it. If the filing status, deductions, or credits have changed, then you will need to file an amendment.
Superseding ReturnA superseding return is a return filed following the original return that is filed within the same filing period. If you are e-filing then make sure you check the box that says "Superseded Return" otherwise the IRS’s software will reject it as a duplicate.
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