With few exceptions, the government requires most wage earners to file tax returns. Tax returns is the method of reporting your yearly income, as well as expenses you have incurred throughout the year, to determine your tax liability. Tax deductions on your income tax returns are often expenses or credits the government allows you to receive that reduces your tax liability. If your tax deductions were reported incorrectly, you will need to amend your tax return to correct the problem and determine your appropriate tax liability.
Instructions
Amending Your Taxes
1. Obtain Form 1040X. This form is the appropriate form to amend your federal income taxes. You can obtain this form from your tax preparer. If you filed your own taxes or can not visit your tax preparer, you may print Form 1040X from the Internet. You will need to assess the IRS website at irs.gov and click on Forms and Publications. Click on form and instruction number. In the search field, type in 1040X and should see the form displayed.
2. Complete the form. You will need to gather the right deductions so you may need your receipts for expenses you incurred throughout the year. You will need to record the proper deductions on the amendment form and adjust your tax liability.
3. Mail the form. You will need to mail to the Department of the Treasury, Internal Revenue Service, Austin, TX 73301. Mail any additional tax liability payments with the completed form. It may take six to eight weeks to process.
4. Amend your state taxes. The amendment form for each state varies. You can assess the Department of Revenue for the proper state by visiting State Links on the IRS website. Click on the state in which you will be filing taxes and you should be directed to a website in which you can obtain the proper forms. You will be able to record the proper deductions on the state form to amend your taxes.
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