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Investments glossary

Amended Return


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I\'m in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.

— Milton Friedman

An amended return is a form filed in order to make corrections to a tax return from a previous year. An amended return can be used to correct errors and claim a more advantageous tax status—such as a refund. For example, one might choose to file an amended return in instances of misreported earnings or tax credits. Mathematical errors, however, would not require amendments, as the IRS would automatically correct for such errors.

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