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chenyang26
Level 1

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. When will 1040X for 2020 be available on IRS?

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. On IRS website, the 1040X is only available for 2019 or prior. When will 1040X for 2020 be available on IRS? Would there be a penalty given that I messed up with one form and now owe tax?
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rjs
Level 15
Level 15

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. When will 1040X for 2020 be available on IRS?

In the Form 1040-X PDF on the IRS web site, read the "New Information for Form 1040-X Filers" at the top of the cover sheet on the page before the actual form. It says the following.


"If the taxpayer is amending their 2020 calendar year return, they should manually enter "2020" in the entry box next to "calendar year" on the line below the calendar year checkboxes."

 

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3 Replies
Critter-3
Level 15

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. When will 1040X for 2020 be available on IRS?

The amendment process has been ready for months ...  and if you have a balance due make sure to pay it when you send in the amendment to avoid any penalties or interest.  

 

If you have already filled your taxes the first step is to wait and see if it is Accepted or Rejected. 

  • If it is Rejected you will be able to correct the rejection error and make the needed corrections and refile the return.  
  • If it is Accepted you will have to wait and file an amended tax return:
    • If you're getting a refund wait until the refund comes in.
    • If you owe money wait at least two weeks before filing the amended return.  (This is so that the IRS has time to process the original return.)

To amend a return 

Some quick ground rules:

  1. Be sure the original return was filed and accepted.
  2. DO NOT go back into the return or change anything before you start the amendment process.
  3. Gather everything you need before you start.
  4. Complete the entire amendment process before you log out.
  5. Starting with 2020 tax returns you can E-File a 1040-X amended tax return.  All prior years must be printed and mailed.

 You can correct a return that you've already filed and had accepted.  Select the year that applies and use this guide to proceed.

Select your tax year for amending instructions:

rjs
Level 15
Level 15

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. When will 1040X for 2020 be available on IRS?

In the Form 1040-X PDF on the IRS web site, read the "New Information for Form 1040-X Filers" at the top of the cover sheet on the page before the actual form. It says the following.


"If the taxpayer is amending their 2020 calendar year return, they should manually enter "2020" in the entry box next to "calendar year" on the line below the calendar year checkboxes."

 

View solution in original post

Critter-3
Level 15

My tax return for 2020 has been processed, but I found I made a mistake and I'd like to do a modification and file a 1040X. When will 1040X for 2020 be available on IRS?

If you use the program this should be done automatically ... review the 1040X prior to filing.

 

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