Amended Tax Return

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An amended tax return is a form filed by an individual or entity to correct errors that were made in a filed tax return. Examples of mistakes that may need to be corrected can include misreporting earnings and tax credits, the number of dependents claimed, and the filing status. It can also be used to claim a refund if the party forgot to claim a credit. 

The Internal Revenue Service (IRS) form for an amended tax return is Form 1040X and can be filed electronically or through mail. The benefit of filing this form with the IRS is that the taxpayer won’t face a penalty for failing to report income or not paying enough taxes

Mathematical errors will be corrected by the IRS and do not require an amended tax return. [Last updated in June of 2021 by the Wex Definitions Team]