Do I need to amend my return right away if I caught a mistake?

[amydvis]

My ex-husband and I have worked it out so that we each claim one of our two children. To my knowledge, I only claimed one child, but did enter the second child's ss number when prompted. Now that he is trying to file his return, he is unable to claim the second child because the IRS is saying her ss number has already been used. Should I amend my return or wait for an audit to get this straightened out?

[Tonita · Accepted solution]

 You should not try to amend your return until it has been fully processed and you have received your refund or your payment has cleared.  Amended returns do not “catch up” to your original return and replace them;  they are processed as two separate returns.  

Amended returns have to be printed and filed by mail.  It can take the IRS up to 12 weeks or longer to process them.   If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return.