I made a mistake on my federal return that I have already filed what can I do?
What you do depends on the type of mistake that you made:
Mathematical errors are usually caught in the processing of the tax return itself. If you did not attach a required schedule, the IRS will contact you and ask for the missing information.
If you did not report all your income or did not claim a credit, you should file an amended or corrected return using Form 1040X, Amended U.S. Individual Income Tax Return.
If you determine that the mistake needs to be corrected with an Amended return, be sure to include copies of any schedules that have been changed or any W-2, W-2G or 1099 not included in the original filing that have withholdings on it.
To claim a refund, Form 1040X must be received within three years after the date you filed your original return or within two years after the date you paid the tax, whichever is later.
The IRS advised that it will take 8 to12 weeks to process an amended return.
If you file an amended federal return be sure to check the original New York return, if there is no change in tax due or refund than an amended New York return is not required.
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Questions for Deborah Ritz can be e-mailed to The Weekly Adirondack at WeeklyADK@yahoo.com