It takes us more than 20 weeks (instead of 16 weeks) to process amended returns. Don't file a second tax return or call the IRS. It's important to note that you can't file Form 1040X online; you must mail in the amended tax return. The IRS states that it can take up to three weeks for the amended return to appear in its system.
They then say that processing the amended return can take up to 16 weeks. However, due to the pandemic, processing time is approaching 6 months or more. The processing of amended returns may take more than 16 weeks if the return is incomplete, has errors, is not signed, is related to identity theft or fraud, or if it includes Form 8379, Injured Spouse Assignment. In some cases, the IRS may contact you if you need more information to process your return.
You must file the amendment within three years of the due date of the original tax return plus any extensions granted to you. The other disadvantage of an amended tax return is that you can't receive a refund electronically via direct deposit. The IRS will only receive calls about the status of a modified tax refund if 12 weeks have passed since the official receipt of Form 1040X. No, filing an amended tax return will not help you receive a stimulus check or a larger payment amount.
You can file an amended return within 3 years of the date you filed your original return or within 2 years after the date you paid any tax due, whichever comes later. If you need to correct something on your tax return, it's easy to file an amended return and follow up on it when you understand the procedure. If your amended return indicates that you owe more taxes, you should pay them as soon as possible to limit interest and penalties. If you've already received part of the available credit, you'll need to make an adjustment to your tax return to take it into account, which could result in a smaller tax refund.
Taxpayers who expect to adjust their anticipated child tax credit amounts should ensure that the amounts they have received are entered correctly on their tax return. If you paid any tax due, you must file the amendment within two years of the date you paid. And, if you're modifying a return from a previous year and that year's original return was filed on paper, the amended return must also be filed on paper.