You can't file an amended tax return online, unfortunately
. This doesn't often happen at large companies, but may be more common with smaller employers with in-house bookkeeping.
The IRS reports that, nationally, the average taxpayer filing an amended return spends nine hours preparing and mailing their forms, though the time burden varies depending on the type of taxpayer and whether they seek professional help.Unfortunately you can't file an amended return electronically; you'll need to print, fill out, and mail the form to the IRS.
You should also check with your state's tax bureau to find out whether you need to file an amended state return as well.To mail your amended tax return to the appropriate address, check page 18 of the 1040XIs there a penalty for filing an amended tax return? Interest and penalties for late payment of taxes may be charged, but there aren't any fees or penalties associated with simply filing an amended tax return. You can check out the IRSThe IRS says it usually processes amended tax returns within eight to 12 weeks of the mailing date, though it could take up to 16 weeks or longer, particularly in cases of identity fraud.on IRS.gov to track its status.
The status of your amended return will move from received to adjusted to completed. If your return is adjusted, there will usually be a new refund issued or a tax balance due.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
9 steps I cross off the list before filing my taxes as a freelancer - Business InsiderI'm self-employed, so tax season is slightly more complicated for me than for someone with more traditional employment.
Read more »
Filing your taxes early? Here’s what you need to knowYou can now officially file your 2019 tax return, but should you? NBC senior business correspondent Stephanie Ruhle tells TODAY that it’s good to file early, particularly if you’re expecting a refund. She also weights the pros of cons of filling out your own return, using software, or hiring a tax professionals.
Read more »
Best tax software for small business owners: How TurboTax, TaxAct, and eFile.com compare - Business InsiderTo find the best tax software for small business owners, we compared leading online tax services on price, accessibility, and ease of use.
Read more »
9 steps I cross off the list before filing my taxes as a freelancer - Business InsiderI'm self-employed, so tax season is slightly more complicated for me than for someone with more traditional employment.
Read more »
The Chatbots in Insurance Playbook – Business Insider Intelligence - Business Insider[NEW REPORT] The Chatbots in Insurance Playbook: BIIntelligence uses a proprietary transformation maturity scale to allow firms measure the maturity of their chatbot deployments
Read more »
TurboTax, tax-prep companies made $1 billion charging for free services - Business InsiderThe audit suggested juicing the ad budget for a free filing program, but it's unlikely to happen soon given years of deep budget cuts in the IRS.
Read more »