Form 1040X Explained

Form 1040X is the tax form that taxpayers have to use when they have made a mistake on their taxes. This form allows you to make corrections to your previous tax returns. It can be used to correct an error or include information that you forgot to include when you originally filed. However, the form should not be used to update personal information such as your physical address or contact number.

What Does Form 1040X Mean

Some taxpayers try to avoid filling out this form because they feel like they are going to get into trouble with the IRS for making a mistake. However, keep in mind the form can also be used to claim credits that you forgot about, which could lower the amount that you are expected to pay in taxes.

How the Form Works

When filing the form you want to make sure that you provide the IRS an explanation as to why the tax return needs to be adjusted. For example, you could tell them you receive an unexpected W-2 or you accidently filed under the wrong filing status.

This form is available to taxpayers who filed Form 1040, 1040A, 1040EZ, 1040EZ-T, 1040NR, or 1040NR-EZ. However, keep in mind that if you are making multiple corrections to numerous taxes filed over different years each tax return is going to require its own form.

Closing Thoughts

If you need to file Form 1040X do not hesitate to do so. We are human, all make mistakes, and the IRS is aware of this, which is why they created the form originally.

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Seattle CPA+John Huddleston has written extensively on tax related subjects of interest to small business owners. Since 2002, he has owned his own small business, Huddleston Tax CPAs. He is a graduate of Washington State University and the University of Washington School of Law.

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Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching, Quickbooks consulting, bookkeeping, payroll and business valuation services for small business. We serve Seattle, Bellevue, Redmond, Tacoma, Everett, Kent, Kirkland, Bothell, Lynnwood, Mill Creek, Shoreline, Kenmore, Lake Forest Park, Mountlake Terrace, Renton, Tukwila, Federal Way, Burien, Seatac, Mercer Island, West Seattle, Auburn, Snohomish and Mukilteo. We have a few meeting locations. Call to meet John Huddleston, J.D., LL.M., CPA, Tawni Berg, CPA, Jennifer Zhou, CPA, Jessica Chisholm, CPA or Chuck McClure, CPA. Member WSCPA.