How to file 1040x electronically 2020
Now available: IRS Form 1040-X electronic filing
Timecodes:
internal revenue service irs tax news
now available irs form 1040x
electronic filing major irs
milestone helps taxpayers correct tax
returns
with fewer errors speeds processing ir
2020-183 august 17 2020
washington marking a major milestone in
tax administration the internal revenue
service announced today
the taxpayers can now submit form 1040x
electronically with uh commercial tax
filing software
there's a link to the 1040x here this is
a good information for tax return
preparers because really they're pushing
everything to be done
electronically and so the processes are
all set up to be to be filing tax
returns electronically but
the form 1040x then has always
needed to be paper filed which was kind
of a pain
because the 1040x is somewhat common of
a of a type of tax form so we might
you might have situations where you got
to file the tax form and then you might
have some some circumstances that could
happen in the future where you would
need to amend
uh the tax form at that point and doing
it by paper was
a tedious process to do so hopefully
this will speed things up
greatly for the processing of the tax
returns and i know the irs has of course
been pushing for this for a long time
because they're trying to get everything
to be basically online and it's it's
nice for
tax preparers to who can be filing a
1040x
an amended return uh with these filing
software so
that is kind of a big deal back to text
the irs e-filing has grown during the
past 30 years the 1040x amended u.s
individual income tax return
has been one of the last major
individual tax forms that needed to be
paper filed
today's announcement follows years of
efforts by the irs
and the enhancement allows taxpayers to
quickly electronically correct
previous filed uh previously filed tax
returns
while minimizing errors and again that's
a huge thing to
to be able to do because there's a lot
of pressure if you can't you know amend
the tax return too easily
it's a lot nicer if you can basically
file the tax return with
with what you have in certain
circumstances and and know
that uh if something happens in the
future that you can amend it without too
much
uh difficulty just to go through the
paper processing work to do so
back to the text quote the ability to
file the form 1040x electronically has
been an important long-term goal of the
irs
e file initiative for many years end
quote
said sanita low irs
deputy commissioner for services and
enforcement quote
given the details needed on the form
there have been
numerous changes to add this form to the
eve
e-file family our it and business
operation teams worked hard with the
nation's tax industry to make this
change possible
this is another success for the irs
modernization efforts
the additional uh the addition helps
taxpayers have a quicker
easier way to file amended returns and
its streamlines work
for the irs and the entire tax community
end quote
making the 1040x an electronically filed
form
has been a goal for the tax software and
tax professional industry for years
it's been a continuing recommendation
from the internal revenue service
advisory council the irsac
and electronic tax administration
advisory committee
etaac i would think that it would have
been
a repeated recommendation uh type of
thing because
yes back to the text currently taxpayers
must mail
a completed form 1040x to the irs
pros for processing the new electronic
option allows the irs to receive amended
returns faster
while minimizing errors normally
associated with manually completed
pleating the tax form since the tax
filing software allows users to input
their data in a question
answer format and simplifies the process
for them
it also makes it easier for the irs
employees to answer taxpayer questions
since the data is entered electronically
and submitted to the agency
almost simultaneously quote adding the
1040x to the filing port
portfolio provides a better experience
for taxpayers all around
it makes submitting an amended return
easier and it allows our employees to
process
it in a more efficient way end quote
said
can carbon the irs wage and investment
commissioner and head of the division
responsible for
processing these returns for the initial
phase
only tax year 2019 forms 10 40
and 10 40 sr returns can be amended
electronically
additional improvements are planned for
the future
so they're obviously kind of drawing the
line saying okay we're going to start
this out with 2019
and then be pushing forward from that
point forward with this electronic
option so if you're going
to amend tax returns 2018 and before
looks like you still need to do the old
paper process for that
2019 and push and forward possibly being
able to move to this electronic
filing process and then you can take a
look at what your
software providers are providing with
regards to the 1040x and i'm sure
they'll have news on it from
the software provider side of things on
how that process will work
back to the text about 3 million form
1040x are filed by taxpayers each year
taxpayers still have the option to
submit paper version of the form 1040x
and should follow
the instructions for preparing and
submitting the paper form
those filing their form 1040x
electronically and on paper can use the
where's my amended return there's a link
to that here online tool to check the
status of their amended return
so it does look like you can still do
the paper processing
filing i'm sure they're going to run the
two things side by side for some time
and then possibly try to push everyone
to the online option once it starts uh
working well which is kind of like the
trend that seems to be going
uh for filing in general
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