Later this summer taxpayers will be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically for the first time using available tax software products, the Internal Revenue Service (IRS) announced yesterday.
Currently, taxpayers must mail a completed Form 1040-X to the IRS for processing. The IRS believes the new electronic option will allow the agency to receive amended returns faster while minimizing errors normally associated with manually completing the form.
According to the IRS, About 3 million Forms 1040-X are filed by taxpayers each year. Making the 1040-X an electronically filed form has been a goal of the IRS for a number of years.
“This new process is a major milestone for the IRS, and it follows hard work by people across the agency,” said IRS Commissioner Chuck Rettig. “E-filing has been one of the great success stories of the IRS, and more than 90 percent of taxpayers use it routinely. But the big hurdle that’s been remaining for years is to convert amended returns into this electronic process. Our teams have worked diligently to overcome the unique challenges related to the 1040-X, and we look forward to offering this new service this summer.”
The IRS said new electronic filing option will provide the agency with more complete and accurate data in an easily readable format to enable customer service representatives to answer taxpayers’ questions. Taxpayers can still use the “Where’s My Amended Return?” online tool to check the status of their electronically-filed 1040-X.
When the electronic filing option becomes available, the IRS said that only tax year 2019 Forms 1040 and 1040-SR returns can be amended electronically. In general, taxpayers will still have the option to submit a paper version of the Form 1040-X and should follow the instructions for preparing and submitting the paper form. Additional enhancements are planned for the future.
“Adding amended returns to the electronic family also complements our partnership with the tax software industry, which continues to work with us to provide better ways to help taxpayers,” said Ken Corbin, Commissioner of the IRS Wage and Investment division.