Amending a return

Forum|Forum|4 years ago
June 3, 2022
1 reply
8 views

I totally forgot about some income I received last year.

I have the W2.

What can I do, and what will the cost be?

xmasbaby0

Level 15

Wait until your original return has been fully processed, and then you can amend it to add the W-2. You will need a Form 1040X. If you do not need to upgrade to a higher version of the software to amend, there is no extra cost.

https://ttlc.intuit.com/community/tax-return/help/how-do-i-amend-my-2021-return/00/2544441

Even during “normal” times it takes about four months for the IRS to process an amended return. During the pandemic and due to the severe backlog at the IRS it is taking much longer—six months or more for many amended returns. Do not expect quick results from amending. When the IRS issues a refund for an amended return it will be by check. They do not make direct deposits for refunds for amended returns. You can watch for information here:

https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**