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Tax tip of the day:
The IRS promises a new option for U.S. taxpayers. Later this summer, Amended U.S. individual tax returns can be filed electronically. When the electronic filing option becomes available, taxpayers will only be able to amend tax year 2019 Forms 1040 and 1040-SR returns electronically, but it is a start to speeding up the process for the future. And if you feel the need to check on the status of that amended return, you can still use the Where’s My Amended Return? Tool to find answers. The new electronic option will not only speed up receipt of the amended returns, but will minimize errors often associated with manual completion of the form.