The tax filing deadline isn’t necessarily the final act for a tax year. In certain situations, events or other circumstances make it important to review the tax positions taken on a return and make changes to it via an amended return. This year in particular warrants a review of returns filed for 2018 and 2019. And even after the 2020 returns are filed, it may be desirable in the future to amend previous returns. These reviews are triggered in part by changes in tax rules related to COVID-19, various natural disasters, and other reasons.

Overview of Amending Returns

An amended return is not mandatory. For example, if there is a math error or simple oversight on reporting income that has been reported to the IRS, the Service’s computers  may  find the omission and send a taxpayer a bill for the underpayment, plus interest and penalties if applicable. However, if a taxpayer is eligible for a refund, an amended return is required; the IRS does not generate a tax refund automatically.

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