IT WILL TAKE THE IRS AT LEAST 4TO $6 MONTHS TO PROCESS THE AMENDED RETURN AND THE TAXPAYER WILL BE ASSSED A PENALTY FOR SIGNIFICANTLY UNDER REPORTINGHIS INCOME ON THE ORIGINAL RETUR.N. BY filing a correct second return  before the due date  negates the under reporting penalty. THE  second return becomes the official return .

Thanks for asking. I remembered this from school and checked it out last night.