An amended tax return is used to correct errors on a previously filed return. Mistakes happen for many reasons including missing income, incorrect filing status, or overlooked deductions or credits.
Common reasons for amending include discovering income after filing, correcting dependent information, or realizing that a credit was missed. Filing an amendment ensures the return accurately reflects your financial situation.
There are time limits for filing amended returns, especially when a refund is involved. Acting promptly preserves refund rights and reduces complications.
Amended returns may result in additional tax owed or an increased refund. Either outcome improves compliance and accuracy.
Filing an amended return voluntarily is often better than waiting for tax authorities to identify the issue.