What If You Make a Mistake on Your Taxes?

Mistakes on tax returns must be corrected.

The Internal Revenue Service (IRS) recognizes that legitimate mistakes are sometimes made when preparing tax returns. However, the IRS does not take tax return mistakes lightly, nor should anyone who has filed an inaccurate return.

File a 1040X

Mistakes on tax returns can be corrected by filing an amended return on IRS Form 1040X. Documentation of the changes must be attached. For example, if a deduction wasn't claimed, the receipt for it must be attached to the 1040X.

The IRS Corrects Some Mistakes

The IRS corrects mathematical mistakes on tax returns and refunds or charges the tax filer accordingly. In the case of a missing schedule or improper documentation, the IRS will request the appropriate information.

Tax Preparers Take Responsibility for IRS Correspondence

There is a Third Party Authorization Check Box on Form 1040 that permits a tax preparer to speak to the IRS. Although most tax preparers include follow-up correspondence with the IRS in their initial fee, the ultimate responsibility for tax mistakes lies with the filer.

References

• IRS: Amended Returns and Form 1040X
• MSN Money: Tax Mistake? You Can Make Amends.
• Liberty Tax: Tax Services