Get Minnesota Form M4 Instructions 2023

Amending a return doesn't instantly trigger an audit, and it doesn't increase the risk of your first return getting audited. However, when you send in an amended return, the IRS usually looks a closer look at it. To be on the safe side, you should make sure that your amended returns are completely accurate.

You should file an amended return if you need to correct an error or omission to your income, change your filing status, change your deductions, or to claim or correct a tax credit.

The IRS is required to manually process all amended returns, which takes an average of 20 weeks, irrespective of the chosen filing method. However, the IRS says choosing e-file and direct deposit “cuts out the mail time” and “provides a convenient and secure way to receive refunds faster.”

You should amend your return if you reported certain items incorrectly on the original return, such as filing status, dependents, total income, deductions or credits. However, you don't have to amend a return because of math errors you made; the IRS will correct those.

In most cases, you can file an amended tax or fee return using Webfile. An amended return changes the data previously filed. Amended returns filed through Webfile will reflect the data originally filed with the Comptroller's Office. Change only the data that you need to amend.

Disadvantages of an Amended Tax Return There is, however, a three-year statute of limitations for issuing tax refund checks. Therefore, the taxpayer must file any amended returns that will result in a tax refund within three years after the date they filed the original tax return.

The IRS may correct certain errors on a return and may accept returns without certain required forms or schedules. In these instances, there's no need to amend your return. However, file an amended return if there's a change in your filing status, income, deductions, credits, or tax liability.

If you owe money as a result of the correction, you should include a check or money order with your 1040-X submission. You can pay the balance you owe online, using Direct Pay or the Electronic Federal Tax Payment System (EFTPS). If you can't pay right now, file the amended return and apply for an IRS Installment Plan.