What Are Tax Amendments?

The IRS allows you to correct mistakes on a tax return you’ve already filed by filing an amended tax return.
If you make a mistake on a tax return you’ve already filed, the IRS allows you to correct those mistakes by filing an amended tax return. If the correction results in an increase in the amount of tax you owe, it’s to your advantage to file the amendment to avoid potential interest and penalties on the underpayment.