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How long does it take for an amended tax refund?
When an error is noticed on your tax return, you have to file an amended return to rectify the mistake and receive the refund for which you are eligible. The critical question is how long does it take for an amended tax return and what is the process for it. There are several key things to look at here that influence the time it takes for your amended tax refund.
We tend to look in this article at the things you need to pay attention to when considering an amended tax refund.
What is a tax-amended refund?
An amended tax refund is the error-free version of the tax return you filed in the first place. It gives you the freedom to make changes to your tax return after it has been submitted to the ruling authority, which is the IRS. You can do the following in terms of an amended tax refund:
- Rectifying your mistakes
- Changing your filing status
- The addition or removal of dependents
- Alteration to the amount of tax that you owe or the refund that is due
For taxpayers, the amended refund is filed using Form 1040-X. This form is designed especially for making changes and corrections to an existing filed form 1040, 1040-A, or 1040-EZ.
The Duration for an Amended Tax Return
The processing time for an amended tax refund is a lot longer than the original return of the same document. Here are some of the key things to consider:
IRS Duration for Amended Refunds
After the submission of Form 1040-X, the IRS needs to look at it in-depth. This is different from the initial return, which is processed within a period of 21 days. According to the IRS, it can take 16 weeks to check an amended tax refund. For some special cases, it can take even longer. You might be wondering why it takes longer to calculate and process amended refunds. Let’s discuss some of the factors that influence the time it takes to process a refund:
- One of the reasons for this is manual review, which takes a lot more time as IRS agents need to check and verify the changes. There are many complex scenarios involved in the amended refund, which can require further checking and, hence, delays.
- Secondly, the IRS faces a heap of amended refunds, exclusively during tax season, which can cause a lot of delays.
- For people who file through the paper form 1040-X, the process can take even longer. Paper returns can take more time because of the many manual practices involved compared to electronic returns, which can take less time.
How long does it take for an Amended Tax Refund?
When the IRS has processed your amended return, they will either provide a refund or adjust any overpayment for the taxes owed. Nevertheless, the timeline for receiving a refund can be different depending on multiple factors:
- There is no real-time tracking system for amended returns like there is for consistent tax returns. That being said, you can still look at the status of your amended return by using the “Where’s my amended return” option on the IRS website. This helps you to check specific milestones within 3 weeks of filing your form 1040-X.
- For people who are due a refund for your amended return, the IRS usually issues a check. This can take some weeks after the processing is done. Some exclusive cases which require electronic refund can take longer for verifying the data.
Therefore, the IRS says that it can take 8-12 weeks for the refund to be calculated after the amended return is calculated, but there can be delays.
How to quicken this process
There are some limited ways to speed up the process of receiving an amended tax refund. The IRS is quite evident as they have specific timelines for calculation and processing those timelines, which taxpayers cannot change. There are some things that can be done to minimize the duration and expedite the process:
- Filing electronically can help you process your taxes more efficiently when it comes to having an amended tax refund.
- You have to make sure that your IRS tax return is amended and precise; if the IRS finds an error or inaccurate information, this can cause delays and add an additional review as well. You can also check the mandatory forms and documentation that are incorporated in your Form 1040-X.
- If the IRS needs additional information regarding the amended refund, they have to send you a notice. You should respond to any such queries in a timely manner to avoid any further delays.
Things to consider if you haven’t received your amended return
If you are still waiting to receive your amended tax return, the IRS provides an estimated time frame in which you can check your status online using the IRS tool: ” Where’s my Amended Return? ” Furthermore, you can also check with the IRS to see if the duration has exceeded 16 weeks since you filed for your amended refund. If you have a doubt that there is an issue, you can directly contact the IRS. One of the good ways to do this is by calling the Internal Revenue Service at their toll-free number. Be prepared for longer durations if you have called in a usually busy period or during the tax season. Lastly, the IRS will definitely send you a notice if there is any problem with your refund or if the IRS requires any additional information.
Obligation to file an amended tax return
Whether it’s an individual income tax return or your business tax return, it can take up to 16 weeks to process your amended return. Keep in mind that this duration can increase depending upon the complexity of your return and can take up to 8 to 12 weeks. However, the process can be slow as it’s complex data to process, and the involved agents have to ensure accuracy when handling your document.
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