Amendments can be filed on your tax return if you have forgotten an itemization or realized that you were eligible for a tax credit or deduction. It is important to have your ducks in a row before you start your taxes, but this is not always the case. When you are unprepared, there are methods of filing proper amendments to make it an easier process.
Do your best to only file amendments once. Making multiple amendments to your tax return looks suspicious to the IRS and may trigger an audit. You can file multiple amendments at one time, which is the best practice if more than one part of your tax return requires editing. It is confusing to the IRS to continually see amendments being made.
In some cases, when you know you will have amendments, you really are better off filing for an extension.
Ensure Amendment Validity
Before filing an amendment, make sure that it is valid. An amendment that is not acceptable only ends in a rejected return and frustration on your end. Worksheets are available for nearly anything tax-related on the IRS website so that you can see if you qualify for specific deductions or credits. Missed credits and deductions are a common reason for amendments to be filed.
Keep all of your tax documentation readily available. Lavish amendments may result in an audit. In this case, you will be required to provide tax documents from multiple years. When you have your original paperwork available, and in proper order, it makes the audit process smoother should it arise.
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