I had just filed my Taxes using the W2 forms but then I realized that I had forgotten to include the scholarship amounts I received and details from the 1042S form. I believe this would lead to me receiving a larger Tax Refund.
I would deeply appreciate any assistance on the matter and steps towards amending the mistake. I also hope I would be able to amend the error past the filing deadline.
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You should *wait* until your return has been processed and you receive your refund or conformation that any tax due has been paid. (If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time). In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment – a sticky process that can take a year or more).
-- Then you can start the amend process.
It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it. That is the only proof of mailing that the IRS will accept.
-- Amended returns can only be mailed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.
***************************************NOTE***********************************************
Amended returns can take up to 16 weeks (4 months) to process in normal times but due the the Corona virus shutdown the IRS is not even opening mailed returns at this time and just storing them so the 16 weeks will not even start until the IRS returns to normal - whenever that will be - and there will be a huge backup of mail.
https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue
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See this TurboTax FAQ for help with amending:
https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed
Thank you so much for the help! Is there a deadline on filing the amendment? I do not have any payments due to the IRS only Refunds, so would it be fine for me to file the Amendment after the deadline?
Thank you so much!
Yes.
You can file an amended return within three years from the date you filed your original tax return or two years after you paid the tax due, using the latest date of those.
Thanks, I also had another query. I'm an international student and since I filed with TurboTax I didn't fill in the 1040NR which I think is the required form (I filled the 1040 by accident). In that case should I still wait until I receive my refund to file an amendment ?
TurboTax has indicated that both my tax returns have been accepted by both the federal and the state.
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