Have you ever filed your tax return only to later realize that it was not complete? You forgot to include some income, you left off a deduction, you did something incorrect on the return. Sometimes you may want to file now, then file later when that last document comes in. After all, you’re waiting for that fat refund. It’s a situation many of us have found ourselves in. The solution is to file an Amended Return, Form 1040X. The IRS lists “Ten Facts on Filing an Amended Tax Return.” They are listed here:

1. Use Form 1040X, Amended U.S. Individual Income Tax Return, to file an amended tax return. An amended return cannot be e-filed. You must file it on paper.

2. You should consider filing an amended tax return if there is a change in your filing status, income, deductions or credits.

3. You normally do not need to file an amended return to correct math errors. The IRS will automatically make those changes for you. Also, do not file an amended return because you forgot to attach tax forms, such as W-2s or schedules. The IRS normally will send a request asking for those.

4. Generally, you must file Form 1040X within three years from the date you filed your original tax return or within two years of the date you paid the tax, whichever is later. Be sure to enter the year of the return you are amending at the top of Form 1040X.

5. If you are amending more than one tax return, prepare a 1040X for each return and mail them to the IRS in separate envelopes. You will find the appropriate IRS address to mail your return to in the Form 1040X instructions.

6. If your changes involve the need for another schedule or form, you must attach that schedule or form to the amended return.

7. If you are filing an amended tax return to claim an additional refund, wait until you have received your original tax refund before filing Form 1040X. Amended returns take up to 12 weeks to process. You may cash your original refund check while waiting for the additional refund.

8. If you owe additional taxes with Form 1040X, file it and pay the tax as soon as possible to minimize interest and penalties.

9. You can track the status of your amended tax return three weeks after you file with the IRS’s new tool called, ‘Where’s My Amended Return?’ The automated tool is available on IRS.gov and by phone at 866-464-2050. The online and phone tools are available in English and Spanish. You can track the status of your amended return for the current year and up to three prior years.

10. To use either ‘Where’s My Amended Return’ tool, just enter your taxpayer identification number (usually your Social Security number), date of birth and zip code. If you have filed amended returns for more than one year, you can select each year individually to check the status of each. If you use the tool by phone, you will not need to call a different IRS phone number unless the tool tells you to do so.

These facts are helpful if you need to file a return but they don’t tell the whole story. Three additional facts I would add:

First, as the IRS states, amended returns cannot be e-filed, they must be submitted as a paper return. What the IRS does not say is that means the submission is examined by a person, not machine scanned. Although you only changed one item on the return, the examiner can, and frequently does, examine all the items on the return. If there is anything questionable, the IRS will conduct an audit or request more information.

Second, if you file an amended return and are getting a refund, I hope that you are not in any rush. The stated IRS time for processing a Form 1040X is up to 12 weeks. Right now, amended returns are taking 16 or more weeks for processing. Currently, there are a large number of amended returns being submitted and it is taking a very long time to work through them. This backlog has been going on for at least a couple of years now, and it only appears to be getting worse.

Third, the IRS mentions this, but does not put much emphasis on it. If you file an amended return and you owe additional tax, you will be assessed penalties and interest on the amount due. Probably the best practice is to pay the amount due and let the IRS bill you for any penalties and interest. If you have a valid reason for the late payment, you may appeal to the IRS for a recession of the penalties. This may or may not be successful, but it doesn’t hurt to ask. The IRS will not and cannot forgive the interest unless the amount owed is reduced. So don’t even ask. On the positive side, if you are due a refund, the IRS will pay you interest on the amount of the refund. Of course, next year they will send you a 1099-INT, so you’ll have to pay tax on the interest income.

When you file an amended return you need to submit the Form 1040X, any supplementary form or schedule that changed, and include an explanation (on the 1040X) of why the changes are being made. Here’s hoping you don’t have to file an amended return, but if you do I wish for you a lot of patience.

In accordance with Circular 230 Disclosure