The Time Period to Amend a Tax Return
Many people don't realize that you only have a certain period of time to amend a tax return. Find out more information about the time period available to amend a tax return with help from a CPA and partner at Safe Harbor, LLP in this free video clip.
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Hi, I'm Chun Wong, a CPA and partner at Safe Harbor, LLP, a tax and audit firm based in San Francisco, California. Today's segment is on the amount of time we have to amend a tax return. Amended tax returns are subsequent filings to correct and originally filed returns. Some of the main reasons we see here at Safe Harbor for amending a return are previously unreported income, corrected W-2s or 1099s or misclassification in filing status. Correcting or revising an amended return requires filling out form 1040X, a new 1040, attaching new schedules and forms that are required. An amended return can only be paper filed with the IRS for manual processing. The IRS is very strict in accepting these returns. The time we have to file an amended return is normally three years and the main reason is tax refunds are only issued for back to three years. State tax refunds, however, could vary and you would need to check with your local state tax and authority. Filing an amended return is often times more difficult than filing the original return. Be sure to always check with your local tax professional or by emailing us at email@example.com.