How to Amend a Filed Tax Return

Learn how to correct errors or omissions in your filed tax return, whether you overpaid or underpaid. Step-by-step guidance for making amendments via Renta WEB.

Sometimes, after you’ve filed your income tax return for the current year or a previous year, you might notice mistakes or missing information that need to be corrected. Here’s how to amend a filed tax return:

Two Possible Scenarios:

1. You Overpaid or Should Receive a Larger Refund:

   – If you realize that the amount you should have been refunded is higher, or the amount you paid is lower than what you reported, you can request a correction.

   – To correct this, go to your Renta file through Renta WEB and use the “Modify return filed” section.

   – Note: You cannot request a correction if the tax authorities have already issued a final or provisional settlement for the error or if more than four years have passed since you filed the return.

   – Alternatively, you can also file an appeal or a request for rectification.

2. You Underpaid or Should Receive a Smaller Refund:

   – If you discover that the amount to be refunded is less, or the amount to be paid is more than what you reported, you must file a supplementary tax return.

   – File this supplementary return via Renta WEB, using the “Modify return filed” section.

   – Make sure to include all the correct information, both from the original return and the new data that needs to be corrected.

   – The amount you originally paid (if positive) will be subtracted from the new amount owed or any refund received will be added to the new amount.

   – This final amount is what you need to pay as a result of the supplementary return.

Additional Situations Requiring a Supplementary Return:

   – If new circumstances have caused you to lose the right to a deduction, reduction, or exemption that you claimed on a previous return, you must file a supplementary return.

By following these steps, you can ensure that any errors or omissions on your tax return are corrected properly. Of course, it’s always better to let a professional do it all for you, feel free to reach out to us at Rosenov & Quintero Accountants for an appointment today.

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