Life is full of mistakes, and the tax world is no different — a client forgets to provide a form, a client receives a corrected form, you discover an error with the original preparation of the return.
Webinar instructor Misty Erickson explains how Form 1040-X, Amended U.S. Individual Income Tax Return, or a superseding return can be filed to correct the situation. The webinar covers when an amended return should be filed and walks through the preparation of Form 1040-X.
Below, you’ll find a few of the top questions from the webinar and the accompanying answers. If you choose to attend the on-demand version of this webinar, you’ll have access to the full recording and the entire list of Q&As.
Q: How is the superseding return filed? Do you write “superseding return” on the return?
A: Yes, write “superseding return” on the top of the Form 1040. Because only one return for the current year can be e-filed, you’ll have to mail the superseding return.
Q: Do you need a new Form 8879, IRS e-file Signature Authorization, signed when electronically amending the original return?
A: No. When e-filing the amended return, the original Form 8879 covers it.
Q: Can you only e-file up to four amended returns and must you paper file after that?
A: No, only three amended returns can be electronically filed for the same year per taxpayer. If a fourth amended return is needed, it would have to be mailed.
Q: Does the balance-due timeline for filing an amended return include extensions? A: No, it does not include extensions. The amended return must be filed within three years from the due date of the return.
To learn more about amended returns, you can watch our on-demand webinar. You’ll have access to the full recording, earn up to 1 CPE for AFSP, EA, CPA, CRTP, and be able to view the entire list of Q&As. NATP members can attend for free, depending on membership level! If you’re not an NATP member and want to learn more about membership, join our completely free 30-day trial. For more information, visit natptax.com/explore.
About National Association of Tax ProfessionalsThe National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients. NATP is comprised of over 23,000 leading tax professionals who believe in a superior standard of ethics and exemplify professional excellence. Members rely on NATP to deliver professional connections, content expertise and advocacy that provides them with the support they need to best serve their clients. The organization welcomes all tax professionals in their quest to continually meet the needs of the public, no matter where they are in their careers.
The NATP headquarters is located in Appleton, WI. To learn more, visit www.natptax.com.
Information included in this article is accurate as of the publish date. This post is not reflective of tax law changes or IRS guidance that may have occurred after the date of publishing.