Amending Tax Returns - Presented By TheStreet + TurboTax

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(dramatic upbeat music)

- [Tracy] So you did the right thing.

You got your return in early.

You're all excited, only to realize you forgot something,

or maybe you made a mistake.

It's okay, don't panic.

Thankfully, the IRS knows that stuff happens,

so you can amend your return and file a new one.

There's things you need to know, though,

and thankfully, Lisa Greene-Lewis, CPA and TurboTax Expert,

is here with us right now.

So the first thing is people shouldn't panic.

But to your point, you might not even have to amend

even if you made a mistake.

- Right, yeah, there are cases

where you don't need to amend, so if you,

you know, there's a small amount of income

or something left out, the IRS will make an adjustment

on your return, so say you left out

a form that reports your interest income

and it's a small amount or you transposed a number.

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