IRS Announces Changes to Amended Return Refund Process

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To make a change to a previously filed return which had an error or omission, individuals must file an amended return with the Internal Revenue Service (IRS). Originally, the return had to be printed and mailed to the IRS, which could take six to eight months to process.

In 2020, the IRS released IR-2020-182, which allows individuals to amend their returns electronically. The main drawback was, even though returns were processed faster, it would take weeks for the individual to receive a refund check after they were processed. In response, the IRS recently released IR-2023-22, which now allows individuals to have the refund directly deposited into their bank account. This, along with the e-filing of the return, should both decrease the amount of time to process the amended return as well as the time for the individual to receive the refund.

If you are looking into the possibility of amending a previously filed return or if you have any other tax questions, contact David Leonhardt at [email protected]