I recently filed my taxes with turbotax and today i noticed a high amount in taxes was payed to the irs while previous years i always got returns and my income didnt change that drastically.
Somehow my taxable income is exactly doubled on the return from the amount thats on my W2 states, i`m not sure how happened and i only noticed after filing since usually turbotax doesnt have any issues with importing that W2.
Im pretty sure i should amend this but the option for 2020 isnt available yet.
When will this option become available and also is there any info on how that amount could have doubled to prevent it from doing so with next years filing?
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The doubled W2 amount on your return may have been a TurboTax software error. We take your concern very seriously. This issue has been escalated to our Research and Development and they are working on a solution.
You are not able to make changes to your return once it has been submitted. To make corrections or changes to your pending return, wait until your return's either been accepted or rejected by the IRS.
Please click How do I amend my 2020 return? to learn more.
This happened to me too. I’m not happy. The error wasn’t visible until after I submitted my returns. Even worse that none of the amendment forms are available til end of March. The error cost me almost $1000. With the pandemic, I’m unemployed. I NEED every penny. What a horrible thing to have to deal with, on top of everything else.
It’s great that TT is looking into this. How are you going to help once you figure out what happened?
The same thing happened to me! Everything was perfect until AFTER I filed. I reached out to Turbo Tax and they stated I have to amend.
It sounds like your prior year information was transferred and it was also entered manually which doubled the income amount on your tax return. But yes, unfortunately if your return was already submitted and accepted by the IRS the only option to fix it would be to amend.
Since your return has been accepted by the IRS, wait until you have received your refund, if applicable, and then amend your return to make changes. Amended returns have to be printed and mailed in and take up to 16 weeks to be processed.
If accepted, wait until you have received your refund or taxes due paid, then you can go here for instructions on amending your return.
will i be able to efile the 1040X through turbotax? The IRS page states that they allow efiling for amendment now.
My turbotax states the following for 2020 amendment (Form 1040X will be ready on 03/25/2021.)
does that mean i`d be able to efile through turbotax on that date?
@leslievdb Yes. The 1040X form will be available for filing on 3/25/2021. At that time, you can then follow the instructions in this FAQ here to amend your 2020 tax return.
My W2 was imported thru ADP however the TurboTax Software ran the final check after I had finished everything. I made sure I had completed everything, but then the software final recheck would not let me move forward until I confirmed the amounts by manually re-entering those amounts into the fields provided with that prompt. I tried to skip past it and was not allowed. I tried to enter 0 and it told me I had to enter an amount to continue.
My returns have already both been processed. My payment to the state has cleared, and I received my return from the IRS last week. The IRS website says that I can amend my efile now. And that it’s the same form from last year. They direct me to TurboTax as having the up to date software and forms in order to do so.
Also, my TurboTax documents say that any errors in calculation are guaranteed by Turbo Tax. And that these mistakes will receive a credit for the difference in the amounts, plus interest. So wouldn’t that interest be based on the length of time between my initial filing and the time it takes for TurboTax to correct the error and get me the funds for the additional amount due to me from my return?
This is what happens when I try to use the accuracy guarantee to get a refund on my fees...
"If you are submitting a claim for the most current tax year after April 15, have you received a notice from the IRS or other taxation authority?
Yes NoIf you have not yet received a notification from the IRS or another Taxing Authority, your situation is not covered under the Accuracy Guarantee Terms & Conditions. If you have questions about your situation, please click here to Contact Us."
Oh, and this is the only option given to submit a claim and the very first thing that comes up. Today is NOT AFTER April 15TH of this year. The only answer possible is NO. So basically there is no way for anyone to be eligible for the fee guarantee?!
Honestly, this is beyond frustrating. I've tried calling, and I get put on hold for an hour (with no option to receive a call back). After an hour of cell phone hold time, I get an automated voice saying something about no one taking my call, then "good bye" as it hangs up on me. And no one has even tried to contact me or update on the issues or fixes to the software errors. These are errors that are known to TurboTax.
There must be an easier way to get this resolved?
First time I checked, the 'software unavailable' page said "late March". Then it said March 25th. Today I got on and it says March 26th. IRS website has had 2019 1040X efile software showing available since early Feb. I'll keep checking. Would it be possible to get updates if there are further delays? TY
Due to the passing of the American Rescue Plan, there is a delay with the ability to amend returns. Please see the below TurboTax Help Article for more details and a link to sign up for an update when the amend option is available.
The W2 was mistakenly entered in twice. Darlene Perry
@Pl426-CPR9 Click this link for instructions on How to Amend Your Return.
Type 'w2' in the Search area, then click on 'Jump to w2' to get to this section.
If the W-2's are exactly alike, you can DELETE one of them from the W-2 Summary page.
I received the same error message and have not been able to amend my filing. I've already tried contacting TurboTax about this and have not received any response. I was supposed to receive a return and now I owe thousands.
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