IRS Form 1040 (2020): Late & Amended Filing Guide

What IRS Form 1040 (2020) Is For

IRS Form 1040 (2020) is the standard federal income tax return used by taxpayers to report income, deductions, credits, and tax payments for the 2020 tax year. It determines whether a taxpayer owes additional taxes or qualifies for a refund. Individuals, including self-employed taxpayers, use this form to report wages, investment income, and self-employment income.

This form also applies to self-employed individuals who made estimated tax payments, deferred taxes, or paid self-employment taxes under the CARES Act. For many taxpayers, the 2020 filing year included special rules such as the student loan interest deduction, refundable credits, and other relief related to economic security programs.

When You’d Use Form 1040 for 2020 (Late or Amended Filing)

Late Filing

• If you did not file your 2020 income tax return and received an IRS notice requesting compliance, you should still file to avoid additional penalties.
  
  
• Filing a federal return after the original due date limits penalties and interest. The IRS intends to assess a failure-to-file penalty, typically 5% of the unpaid tax per month (up to 25%).
  
  
• Submitting your past return helps prevent the minimum penalty and further interest charges from increasing.

Refund Claims

• The three-year refund period for 2020 expired on May 17, 2024. You can no longer claim a refund or refundable credit for that tax year.
  
  
• Filing remains important to update IRS records and confirm your payment history or deferred amount.
  
  
• Even without a refund, your return stops the pay penalty from continuing and documents compliance for future filings.

Amended Filing

• File Form 1040-X to correct income, deductions, or credits omitted from your original return.
  
  
• If the payment relates to deferred deposits or deferred social security taxes, provide proof of payment and an explanation.
  
  
• Many states require you to amend your state tax return when your federal return changes.

If you did not file your 2020 income tax return and received an IRS notice requesting compliance, filing your unfiled federal returns helps reduce penalties and brings your account back into good standing. 

Key Rules Specific to 2020

• The Recovery Rebate Credit allowed taxpayers to claim missing stimulus payments.
  
  
• Up to $10,200 of unemployment income was excluded if the modified adjusted gross income was below $150,000.
  
  
• The CARES Act allowed deferral of 50% of the employer’s portion of social security taxes for self-employed individuals.
  
  
• Automatic penalty relief was issued for certain late-filed annual returns due to the COVID-19 pandemic.
  
  
• Standard deductions were $12,400 for singles, $24,800 for married individuals filing jointly, and $18,650 for heads of household.

If you continue receiving IRS notices or need professional representation, consider assigning a representative through an IRS Power of Attorney to manage communication on your behalf.

Step-by-Step (High Level)

• Gather transcripts: Request income transcripts through IRS.gov or by submitting Form 4506-T to verify income, tax withholding, and payments.
  
  
• Use correct forms: Always use the 2020 Form 1040 and applicable schedules. Do not use current-year forms or e-file templates.
  
  
• Attach schedules: Include Schedule 1 for additional income and deductions, Schedule 2 for AMT or other taxes, and Schedule 3 for nonrefundable credits.
  
  
• Choose filing method: Electronic filing for 2020 returns is closed. You must mail your return to the IRS. Use certified mail for proof of delivery.
  
  
• Mail to the correct address: Use the mailing address listed in the 2020 instructions specific to your state and payment method.
  
  
• Keep records: Retain copies of your filed return, payment receipts, and money order stubs for at least three years.

Taxpayers should always use the correct 2020 version of Form 1040 and its accompanying schedules. You can find prior‑year documents in the IRS Form Help Center.

Common Mistakes and How to Avoid Them

• Using the wrong version of Form 1040: Always use the correct year’s form, such as the 2020 edition, when filing for that tax year.
• Forgetting to compare IRS wage and income transcripts: Reconcile your IRS transcripts with your W-2s or 1099s to ensure all reported income is included.
• Miscalculating the Recovery Rebate Credit or student loan interest deduction: Double-check calculations and refer to IRS instructions or online tools for accuracy.
• Sending returns to the wrong IRS address: Verify the correct mailing address for your state and filing type on the IRS website before sending.
• Leaving out required forms or schedules: Include all necessary attachments, such as W-2s, 1099s, and supporting schedules, to prevent delays.
• Overlooking deferred deposits or deferred employment tax payments under the CARES Act: Review prior deferrals to ensure they are correctly reported and repaid according to IRS guidelines.

Some taxpayers may qualify for IRS penalty abatement, especially if they meet reasonable cause or first‑time abatement criteria. 

What Happens After You File

• The IRS typically processes late 2020 returns within 6–8 weeks, though delays are possible.
  
  
• You’ll receive a notice confirming acceptance, indicating a balance due, or requesting clarification.
  
  
• If you owe taxes, penalties, and interest accrue from the original due date until the balance is paid.
  
  
• Payment options include check, debit card, or money order. Payment plans can be requested using Form 9465.
  
  
• If the pay penalty persists or interest rates increase, contact the IRS immediately to arrange a resolution.
  
  
• Refunds for 2020 are no longer available after May 17, 2024, but filing ensures compliance and prevents additional penalties.

If you owe taxes, the IRS offers payment options through several methods, including installment agreements. Review our IRS payment plan guide to understand your available options before submitting Form 9465. 

FAQs

Can I still receive my 2020 refund if I file my taxes late?

No, the refund deadline for 2020 expired May 17, 2024. Even if you overpaid, the IRS will only update your records. Filing remains essential to ensure compliance and avoid penalties on future returns.

Will I be penalized for filing my 2020 return late?

Yes, the IRS generally applies a filing penalty and interest for late filings. Some automatic penalty relief was offered under IRS Notice 2022-36. Filing now limits your exposure to additional penalties and interest.

How do I get my tax transcripts before filing?

You can request transcripts at IRS.gov/transcript, by phone, or using Form 4506-T. Wage and income transcripts list reported income, while account transcripts show balances, penalties, and past filings. Reviewing them ensures accuracy before mailing your return.

Should I amend my state return if I file an amended federal return for the 2020 tax year?

Yes, most states require an amended state tax return when your federal income changes. Amending your state return promptly ensures your records are accurate and prevents future penalties.

What happens if I never file my 2020 return?

If you fail to file, the IRS may prepare a substitute return using employer data and reported income. This often excludes deductions and credits, resulting in a higher tax bill. Filing your own accurate return ensures proper reporting, reduces penalties, and helps avoid enforcement actions.