Amended a return before I paid what I was owed in the original return

[yenlee14]

I filed my tax return and owe about $14k to the IRS that is set to be deducted by my bank account on 4/17. I later amended my tax return for this year and now I get a refund of about $3k which means I now owe about $11k to the IRS. The turbo tax amend tells me I will get the refund into my direct deposit but it also tells me to print out a form 1040-V payment voucher to pay off the $11k. My question is, is the original $14k deduction not going to happen anymore? Should I be paying via check the new owe amount or wait till my deduction comes through and ignore the 1040-V form?

[bluedeb · Accepted solution]

You need to pay what you owe.  On an amended return it assumes you paid your original taxes due.  Then the amended return calculates the new information you entered to come up with a refund or additional taxes owed.

You need to see if Line 16 of your amended return shows the taxes owed from your original return.  If that is showing then you still owe that amount.  The amended return is processed separate from your original return. Also, an amended return takes longer to process.

You need to pay what you owe by April 18th to avoid a penalty and interest.