How to Handle Mistakes on Your Tax Return
Monday, 18 March 2024, 14:30
When to Amend a Tax Return
None of us are immune to errors. You might stick a cake in the oven only to forget about it and wind up with a burnt pile of sugar and flour 60 minutes after the fact. These things happen. Similarly, if you realize a mistake on your tax return, you may need to amend it based on the type of error made.
Math Errors
- Math errors: No need to amend.
Income & Deductions
- Filing status: File an amendment if incorrect.
- Income mistakes: File if income changes or deductions were missed or incorrectly reported.
Remember to take your time when filing to avoid errors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.