An IRS Milestone – E-Filing a 1040-X Will Result in Fewere Errors and Faster Processing


Did you know that taxpayers file about 3 million IRS Forms 1040-X each year? What is a Form 1040-X, you ask?  Well, that is the subject of this week’s article.

The 1040-X is the Amended U.S. Individual Income Tax Return form. Until this week, this fairly important form could only be filed paper form. That has all changed, and in this article, we will cover some of the basics about the 1040-X, and then discuss why having the ability to electronically file the 1040-X is a big step forward.   

If, after reading this article, you would like to have additional information on the 1040-X or any aspect of your taxes, we invite you to call the tax lawyer in Florida, Mary E. King, P.L. The Law Office of Mary E. King, P.L. can make sure that your tax issues are resolved efficiently and at the lowest cost to you. Please fill out our online contact form, or call us at 941-906-7585 today.

What Is the Form 1040-X?

Form 1040-X is a form issued by the Internal Revenue Service (IRS) so that taxpayers are able to amend their tax returns for any reason. For example, if you seek to change your filing status, the number of dependents, or make corrections to your credits and deductions to your income, you would do all of those using the Form 1040-X.

Notably, however, if there are mathematical calculation errors on your original tax return, you would not need to file a 1040-X to correct the errors. The IRS actually will be able to correct the math on your return without the need for you to file anything additional.  

There are some rules related to 1040-X.  It must be filed within three years after you filed the original return or two years after you paid your taxes, whichever is later.

Some Form 1040-X Tips

The IRS actually has a few helpful hints for taxpayers with regard to the 1040-X. First, you would be wise to wait for your first refund before filing a 1040-X. If you are owed additional money as a result of an amended return using the 1040-X, then the IRS will issue a second check. So, it is no problem to cash the first refund check you receive.

Second, filing a 1040-X (provided it is within the time limitations mentioned above) will be considered to have been filed on the official due date of tax season, which is normally on April 15.  

E-Filing the 1040-X Is a Major Milestone

The IRS recently announced that taxpayers are now able to file a Form 1040-X electronically with commercial tax-filing software. Why is that a big deal?

While you may think that having tax returns available for electronic filing should be no big deal in this day in age, launching the ability to e-file the 1040-X marks a major milestone in tax administration.

Over the past 30 years, e-filing has, of course, grown exponentially. However, the 1040-X has somehow escaped being brought online. The 1040-X, in fact, is one of the last major individual tax forms that need to be filed manually on paper. Making it available for electronic filing represents the culmination of years of effort on the part of the IRS.  

Why did it take such a long time? As IRS Deputy Commissioner explained, “Given the details needed on the form, there have been numerous challenges to add this form to the e-file family. Our IT and business operation teams worked hard with the nation’s tax industry to make this change possible. This is another success for IRS modernization efforts. The additional help taxpayers have a quicker, easier way to file amended returns, and it streamlines work for the IRS and the entire tax community.”

Indeed, this change was not only something desired by the IRS, but the entire tax software and tax professional industry have been asking for this change for many years.  

What Are the Benefits to Taxpayers?

Allowing e-filing of the Form 1040-X will result in fewer input errors on the tax form itself. Having taxpayers manually complete the 1040-X has the perennial problem of leading to input errors. Given that tax-filing software allows users to input their data in question-answer format, the process is much simpler. Thus, errors are minimized.

Another clear benefit is that the IRS will be able to process 1040-X forms much faster. Because the data on the form is submitted electronically, the IRS will immediately receive it once complete. That means that the form can be processed that much faster by the IRS.

For the tax year 2019, only the Forms 1040 and 1040-SR can be amended with the 1040-X electronically. However, that capacity will improve in subsequent filing years.  

Let an Experienced Tax Lawyer in Florida Help You With Any Legal Tax Questions You Have

When it comes to amending your tax return or dealing with tax litigation, you need to talk to a tax lawyer in Florida who can help. Mary E. King has spent her career concentrating on tax law and can help you with tax scams in Florida and elsewhere. Attorney King has a wealth of information about what types of options would make the most sense for you and your business.

That helps explain why she’s received an A+ rating from the Florida Better Business Bureau. If you have a tax-related issue – no matter how small or how large – setting up an initial consultation with Mary E. King, tax lawyer of Florida, is the first step you should take towards relief.

The Law Office of Mary King P.L. offers complete IRS problem-solving services including all areas from tax debt settlement to planning the most efficient tax strategy for individuals and businesses. Call us today to schedule an initial consultation. With years of experience as a tax lawyer in Florida for many clients, Attorney Mary E. King can make sure that your tax issues are resolved in your favor. Fill out our online contact form, or call us at 941-906-7585. Remember, at the Law Office of Mary E. King, we are focused on solving your tax issues for good.

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