Now that April 15 has come and gone, many people put thoughts of taxes on the back burner. However, questions may still arise and here are some tips regarding record keeping, tracking your return, and correcting your return if you realize you made a mistake.
Waiting on a refund? If you are expecting a return, you can keep up with its status online or via telephone. If you e-filed your return, you will be able to begin tracking it 72 hours after the IRS acknowledges receipt. If you filed a paper return, it will take 3 to 4 weeks before information is available. In order to get information, you will need to know your filing status, the first Social Security number shown on the return, and the exact whole dollar amount of the refund. The following options will allow you to check on your refund:
- Visit the IRS website and click “Where’s My Refund”
- Call 1-800-829-4477. This is an automated system available 24 hours a day, seven days a week.
- Call 1-800-829–1954 during the hours shown on your tax form instructions.
Good recordkeeping. Generally, tax records should be kept for 3 years but certain documents should be kept longer, such as records relating to the sale of a home, stock transactions, IRAs etc. You should keep a copy of your tax return as part of your records.
Correcting errors after the fact. Errors can delay your return. If you find a mistake, you will need to file an amended return using form 1040X, Amended U.S. Individual Income Tax Return.
Change of address. If you move while awaiting your return, you should send form 8822 to the IRS in addition to completing a change of address form with the United States Post Office.