Form 1040-X vs. Form 1040v 2021-2023

Let's quickly have a conversation about form 1040x i want to give you line by line instructions don't go anywhere you're going to love today's conversation i guarantee it welcome back folks to another edition of the awesome circuit show how are you today i hope you are doing fantastic i'm doing marvelous if you ever ask me if you are doing as great as i am go grab a cup of coffee or tea or vodka let's roll in today's conversation i want to talk to you about form 1040x line by line instructions but before i get into the actual step by steps please i want to talk about some fundamentals so if you are here only for the line by line instructions you want to fast forward this video to about six to seven minutes okay but it's important to talk about the definition what is an amended return because when we speak about form 1040x we are speaking about form an amended return right this is a form filed in order to make corrections to a tax return from a previous year so an amended return can correct errors and claim a more advantageous tax status such as a refund for example you might choose to file an amended return in instances of misreported earnings or tax credit so that's the definition what is the target audience so in other words who should file an amended return all taxpayers are required to file their taxes annually for the previous tax year right everybody understand that taxpayers may realize that they made a mistake in filing out their uh tax forms or their circumstances may have changed after they have submitted or mailed a return that has been accepted by the government so if you...