Taxpayers marooned at home will now be able to submit amended income tax returns to the IRS electronically.
The tax agency announced on Thursday that it would begin accepting amended returns via e-file this summer. Once the e-file option becomes available, filers will only be able to amend their 2019 return.
Remember, you have until July 15 to submit your 2019 individual income tax return.
E-file is already available for regular income tax returns. However, amended returns – known as Form 1040-X – traditionally must be filed on paper.
Back in April, the IRS was unable to process individual paper tax returns due to social distancing measures amid coronavirus.
"E-filing has been one of the great success stories of the IRS, and more than 90 percent of taxpayers use it routinely," said IRS Commissioner Chuck Rettig.
"But the big hurdle that's been remaining for years is to convert amended returns into this electronic process," he said.
The taxman receives about 3 million of the Form 1040-X every year.
You might amend a return to collect tax credits that you missed when you initially filed your return or for income that wasn't properly reported.
If you have amended returns from 2018 or 2017, you'll still need to submit those on paper. And, if you owe a liability from those years, interest and penalties are still accruing.
In that case, manage the damage by paying the IRS online.
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