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Level 2
April 16, 2023
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Amend return: should I wait for IRS to finalize 2020 amend return before amending 2021?

  • April 16, 2023
  • 2 replies
  • 40 views

I have found out a mistake I made in 2020 & 2021.  So I just mailed 2020 Federal & State.  I had to payback my refund.  Since my AGI had changed due to mistake, my 2021 has to be amended as well.  I got refund for 2021 also, So I have to payback.

 

I understand that it would cost me late fees so I maybe need to amend 2021 ASAP.  But if my amend return 2020 is wrong again, my 2021 amend return may be affected as well since AGI will be changed accordingly.

 

Should I wait for IRS, or go ahead to amend return 2021 now?  I live in California and got extension due to weather till Oct/18 for 2022, so I'll file 2022 later this year. 

 

Thank you very much!

 

    Best answer by MaryK4

    You should go ahead and file the 2021 amended return so that it can be processed.  As you said, because you have to pay back a refund, the interest starts and filing puts stops that clock even if additional adjustments ae needed.

    2 replies

    MaryK4
    MaryK4Answer
    Level 15
    April 16, 2023

    You should go ahead and file the 2021 amended return so that it can be processed.  As you said, because you have to pay back a refund, the interest starts and filing puts stops that clock even if additional adjustments ae needed.

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    neko2023Author
    Level 2
    April 19, 2023

    @MaryK4 

    Thank you very much for your advice.  I'll file amend tax 2021 today then.  Have a nice evening!🙂