What if I Forgot to Claim Something on My IRS Statement?
Simply organizing your statements and receipts in order to complete your income taxes takes time and effort. It's no surprise to the IRS when tax payers forget to include something they're entitled to. In fact, they make it easy to go back and make needed changes to more accurately represent your tax situation.
Form 1040X
When you filed your federal taxes, you either used a Form 1040, 1040A, 1040EZ, 1040NR, 1040NR-EZ. If, at any point, you realize that you have forgotten to claim a deduction on any of these forms, you simply file a Form 1040X, Amended U.S. Individual Income Tax Return. You can download a 1040X from the IRS website, copy one at your local library, or call 1-800-829-3676 to request a form be mailed to you.
Additional Taxes Owed
If, after completing your 1040X, you realize that you actually owe more taxes than you anticipated, you should pay them by the tax deadline of April 15 the following year in order to avoid penalties and interest.
Multiple Years
In the event you figure out that you've forgotten to make a particular claim for a number of different tax years, file a separate 1040X for each year you need amended and mail them in separate envelopes. Amended returns cannot be filed electronically and must be mailed. There's a space at the top of the Form1040X for the year. Be sure to include it so there is no confusion. In order to claim a refund, you must generally file a Form 1040X within three years of your original return or two years from the date you paid tax.
Attachments
Once you've filled out your 1040X, attach copies of any forms that might have led to you filling out an amended return. For example, if you received your W-2 after you filed the original return and the amounts on the W-2 were different than you initially expected, attach a copy of the W-2. If you forgot to claim a child care credit, attach copies related to child care.
Process Time
A Form 1040X is normally processed in eight to 12 weeks once it is received by the IRS. If you catch your mistake prior to receiving your original refund, you must wait to receive the first refund before you can claim an additional refund through an amended return. It is fine to cash that original refund during this time.
Another Option
Another option if you forget to claim something on your taxes is to wait and add it to your return the following year. Your standard 1040 forms walks you through the process of amending a previous year's taxes.
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