Amending an efiled return

[taxea]

Amending an efiled return

as I said, I got it straight from the horse's mouth...and Ed agrees...I thougaht we were pretty clear.
As long as the tax year is open (before 4/15) a corrected return should be submitted.
Once the tax year has closed (after 4/15) then an amended return must be prepared.

I don't know why this is not addressed in the instruction books, but I do know that this is the correct procedure. taxea

[BP.]

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

Hi Bob, I didn't see any mention there of a date, or any assumption of a date (pre or post 15 Apr.) Would love to know more though.

[wv112]

I have always sent in a 1040-X to correct the original. Before or after 4/15. Never had any problems. I have never heard of sending in a new return marked "corrected return". Is this new this year?

[Gene V]

as I said, I got it straight from the horse's mouth...and Ed agrees...I thougaht we were pretty clear.
As long as the tax year is open (before 4/15) a corrected return should be submitted.
Once the tax year has closed (after 4/15) then an amended return must be prepared.

I don't know why this is not addressed in the instruction books, but I do know that this is the correct procedure. taxea

That's how we did it in the pass for Oregon part-year and non-resident, just redo
the return and write corrected on the return Now they have a new amended form.
However, I never did hear of this working for the Federal.

[veritas]

Gene

I just read recently that for Oregon only you can correct the return and efile it again after the original efile is accepted.

[Gene V]

I just read recently that for Oregon only you can correct the return and efile it again after the original efile is accepted.

From Oregon EF Manuel
What’s New For Tax Year 2007
1. Oregon will accept retransmitted electronically filed returns and multiple
occurrences of the same Social Security number.
2. Current year 2007 amended returns can be electronically filed with an Amended
Schedule.
Seems like I got a e-mail from Oregon on this--can't seem to find it.
Not sure how Lacerte is going to handle this.

What's with this new Registered Domestic Partner?, I have a few clients wondering
how they are going to file next year. I’m not sure if they qualify to file as
MFJ for Federal and Oregon.

[David1980]

as I said, I got it straight from the horse's mouth...

My own rule is if they [IRS] can't get me a reference to a document the info they're giving is meaningless.

How do you reconcile my earlier quote from tax topic 308 with your position that an amended 1040X is only done after 4/15?

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.

I mean, if you're not supposed to do 1040X pre-4/15 why would you "file Form 1040X and pay the tax by April 15". Clearly what you're saying is they would mail a normal 1040 with "corrected" on top with that tax amount.

Right?

[Jesse]

as I said, I got it straight from the horse's mouth...and Ed agrees...I thougaht we were pretty clear.
As long as the tax year is open (before 4/15) a corrected return should be submitted.
Once the tax year has closed (after 4/15) then an amended return must be prepared.

I don't know why this is not addressed in the instruction books, but I do know that this is the correct procedure. taxea

I'm not arguing with you, but the horse's mouth is not always give correct information.

[Black Bart]

That's a new one on me.

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

Do you know where in the instructions it says to do that?

[Bees Knees]

as I said, I got it straight from the horse's mouth...and Ed agrees...I thougaht we were pretty clear.
As long as the tax year is open (before 4/15) a corrected return should be submitted.
Once the tax year has closed (after 4/15) then an amended return must be prepared.

I don't know why this is not addressed in the instruction books, but I do know that this is the correct procedure. taxea

Do you know where in the instructions it says to do that?

The instruction do not say to do this. However, someone could interpret them to say this.

Form 1040X instructions:

File Form 1040X only after you have filed your original
return. Generally, for a credit or refund, Form 1040X must
be filed within 3 years after the date you filed the original
return or within 2 years after the date you paid the tax,
whichever is later. A return filed early is considered filed on
the due date.

Since a return is not considered filed until the due date of the return (4/15) and you cannot file Form 1040X until after the return is filed, someone could interpret that to mean you can’t file a 1040X until after 4/15.

However, there is no procedure mentioned in the 1040 instructions or the 1040X instructions on how to amend a return prior to 4/15. Therefore, I question the advice to file a “corrected” 1040 rather than 1040X if you file prior to 4/15.

Even if someone at IRS told you to do it that way, regardless of how far up the food chain they reside, I would be concerned about doing anything like that without official IRS instructions telling you to do it that way.

My advice is to ALWAYS wait until after 4/15 to file any amended return. I want to make sure that original return is processed, put to bed, and is in hibernation mode before sending off a 1040X. IRS takes up to six months to process a 1040X, so why rush it?

[oceanlovin'ea]

Why rush it?

One reason to file before 4/15 is that if you owe extra money there will not be any interest. I do tell them that the money is actually due on 4/15 so they can wait till then to pay it.

If the client has more money coming back, they don't want to wait a couple of extra months to get their money. They want it yesterday.

So if there is an error, I would rather fix it sooner than later. But I do wait a month to do the amended.

Linda F

[Jesse]

Perhaps this year the IRS will come out w/ more guidance as to the proper procedure as there will probably be a lot more amendments this year than in past because of the AMT patch issue.

[bertrans]

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.

Before 4/15 it is a superseding return. Just on a procedural note: you can still file a 1040X before 4/15. I simply am not confident about IRS submission folks really noticing the word 'Corrected' atop a regular 1040.

[bertrans]

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:



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...

Let's all take a deep breath: (1) forget what the instructions say on this matter (really!!)
Assume the following:
- You file an original return before 4.15.
- You need to amend that return before/by 4.15;
(- doesn't matter if you are amending to reduce, increase tax - or for informational purposes- or to claim the rebate[once the IRS figures out precisely how it's gonna do that])
- You can use a 1040X OR a 1040 with the word 'corrected' written across the top.
- Your goal here is to get the amended return processed AFTER the original return.

Hope this helps.

[bertrans]

The instruction do not say to do this. However, someone could interpret them to say this.

Form 1040X instructions:



Since a return is not considered filed until the due date of the return (4/15) and you cannot file Form 1040X until after the return is filed, someone could interpret that to mean you can’t file a 1040X until after 4/15.

However, there is no procedure mentioned in the 1040 instructions or the 1040X instructions on how to amend a return prior to 4/15. Therefore, I question the advice to file a “corrected” 1040 rather than 1040X if you file prior to 4/15.

Even if someone at IRS told you to do it that way, regardless of how far up the food chain they reside, I would be concerned about doing anything like that without official IRS instructions telling you to do it that way.

My advice is to ALWAYS wait until after 4/15 to file any amended return. I want to make sure that original return is processed, put to bed, and is in hibernation mode before sending off a 1040X. IRS takes up to six months to process a 1040X, so why rush it?

Your remarks, Sir, are, as always, cogent and on point!