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TaxPayer1111
New Member

I made a mistake on my 2017 tax returns by claiming deductions that I should not have. My tax returns were accepted on Feb 7th. Should I file the amended returns now?

The deductions were somewhat major as I had to unclaim deductions that I am not authorized to claim. Would there be any penalty for filing an amended return, even though the amended returns would be timely (before the April 15 deadline)? Or worse, trigger an audit?

1 Reply
ErinH
Level 1

I made a mistake on my 2017 tax returns by claiming deductions that I should not have. My tax returns were accepted on Feb 7th. Should I file the amended returns now?

There is no fee or penalty to file an amended return and amended returns do not trigger audits. They do get reviewed of course, just like your original return.  

To amend your return you must wait until your original has been fully processed and you receive your refund or have paid your balance due. You will need to prepare an amended tax return on a 1040X and mail it in if the new info changes your refund or tax due amount. You cannot e-file an amended return.  They have to be mailed, and it takes up to 16 weeks for the IRS to process an amended return. 3 weeks after you mailed your amendment, you can start tracking its progress at the IRS Where's My Amended Return? site. 

Amendment instructions can be found here:   https://ttlc.intuit.com/replies/3288565

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