Amending an efiled return

[oceanlovin'ea]

Does anyone know what is the wait period to amend a return that you electronically filed?

Linda F

[BP.]

Does anyone know what is the wait period to amend a return that you electronically filed?

Linda F

Depending on why the amended return is necessary, my waiting period directly coincides with my work load sufficiently diminishing!

[fliszt]

I had to

do one already this year. I waited two weeks after I efiled the return. I just wanted to make sure the efiled return was in their system before amending it. Right or wrong that's how I did it.

[Gary]

Depends

If the client is getting a refund, I wait until they get the refund. If they owe, wait at least two weeks or until their check clears if they didn't send it in immediately. If they owe money, I would not amend before they settle the original return.

[ChEAr$]

The best time

If the client is getting a refund, I wait until they get the refund. If they owe, wait at least two weeks or until their check clears if they didn't send it in immediately. If they owe money, I would not amend before they settle the original return.

IF they already owe and haven't paid, waiting till 4/15 of course, I'll prepare the amendment with a new voucher so they cansend it all in same time.

[bertrans]

I suggest waiting two-three weeks. You want to avoid the situatiion where the paper amended return hits the IRS computer system before the ELF original return does. This can and often does create problems with the proper procesing of the account, whether refunds or balance due. And when I say problems, I really mean problems - for the TP, and, derivatively, for you,.

[oceanlovin'ea]

about 3 weeks

I had thought about 3 weeks for the same reasons given. You want to give the efiled return time to process.
I called IRS about a direct deposit that didn't hit the bank account like it should have. She looked it up and said it was due to be processed on the 18th, which is Monday but the direct deposit should have been in the bank on the 8th.
So actual processing is later than the date of the deposit which really verifies that it is best to wait a few weeks.

Thanks

Linda F

[taxea]

Amending an efiled return

According to the IRS, if a return needs to be changed before 4/15 do a regular not amended return and write "corrected" across the top of the return. It will have to be mailed in whether done before or after 4/15. A 1040X is only done after 4/15 taxea

[ED SMITH]

taxea came up with the right answer - before 4/15 it is a Corrected Return.

The waiting time is not important. It takes at least three weeks for a corrected paper return to be processed - an amended return takes 8-12 weeks.

[David1980]

Don't have to file 1040X?

Is there a source specifying not to do a 1040X but rather to write corrected across top of normal tax form? I looked in what I thought would be usual locations (form 1040 instructions, form 1040X instructions, etc...) and didn't find anything.

I notice on tax topic 308 it says:

If you are filing to claim an additional refund, wait until you have received your original refund (you may cash that check). To avoid penalty and interest, if you owe additional tax for a current year amended return, file Form 1040X and pay the tax by April 15 of the current year.

Which would be relevant to "how long to wait." If you aren't supposed to file 1040X before April 15th the second part there doesn't make sense though...

[BP.]

"Corrected" return

From pub 17, p. 17:

"What If I Made a Mistake?

You should correct your return if, after you filed it, you find that:
You did not report some income;
You claimed deductions or credits you should not have claimed;
You did not claim deductions or credits you could have claimed, or,
You should have claimed a different filing status.

Use Form 1040X to correct a return you have already filed."

[Jesse]

Son of a gun!!!! Why is it the longer I am in this business the less I feel I know? Something like this I should have been aware of!

I just did two amendments w/in a couple of days of the e-file for people that will be receiving extra refunds, called them both and they are already in the mail. What kind of problems will this create?

[oceanlovin'ea]

What is the verdict?

So what is the verdict? Do we send in a corrected copy of a 1040 or are we supposed to do a 1040X?

Seem to have 2 viewpoints....just want to do the correct thing.

Linda F

[BP.]

. . . are we supposed to do a 1040X?

From 2007 1040 inst, check p. 77, bottom left:

http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

[BOB W]

From 2007 1040 inst, check p. 77, bottom left:

http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

BP> This assumes that it is after 4/15 and doesn't mention before 4/15.