Federal Tax, Tax

Direct Deposit Refunds Available for Electronic Amended Returns

If you file an amended tax return electronically, you can now get a direct deposit refund. The IRS announced that taxpayers e-filing Form 1040-X, Amended U.S. Individual Income Tax Return, have this option. Previously, taxpayers who filed Form 1040-X had to wait for a paper check refund. Taxpayers may still submit a paper Form 1040-X and receive a paper check, but direct deposit isn’t available for amended returns submitted on paper. Current processing time is more than 20 weeks for both paper and electronically filed amended returns. However, direct deposit eliminates mail time so you can receive any refund you might be owed faster. Contact Cg with questions. © 2023