Tax Filing Day has come and gone for those of you who did not request an extension of time to file your federal tax return. For those who did request a filing extension, be sure to remain diligent in gathering your documentation and getting the return filed by the extended due date. If you miss the extended due date, the late filing penalties kick in, just like they would have on the original due date had you not filed the extension request.

If You Need to Amend Your Return

In preparing your return, you may have discovered some information that would have an impact on a return for an older tax year. If you did, now would be good time to address that. If you need to amend your return, you do so by filing Form 1040X. But, file this form only after filing your original return.  Generally, for a credit or refund, you must file Form 1040X within three years, including extensions, after the date you filed your original return or within two years after the date you paid the tax, whichever is later.

You will not be alone if you need to file an amended return. All amended returns must be filed on paper. So, allow up to 12 weeks for Form 1040X to be processed. Starting 3 weeks after filing your amended return, you can use the “Where’s my Amended Tax Return?” tool on to check the status.

Even if you prepared and filed your return on your own but discover you may need to file an amended return, you should contact a Virginia tax professional to at least discuss your situation and your options.