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Thanks to a corrected 1099-DIV, I had to file an amended federal tax return for 2022.
My original tax return showed a payment due of $5000 (an amount for example). I e-filed my original tax return, and chose to pay it by direct debit on a future date of 04/18/2023.
My amended tax return shows a refund of $500 (an amount for example). Of course this refund is assuming that I've paid the originally owed $5000. I e-filed my amended tax return as well. But this time TurboTax gave me a Form 1040-V with an amount of $5000 for 2022 that I have to mail in?
So my question is, do I have to mail in my originally owed $5000 to IRS with a check, even though I told IRS to deduct that money using direct debit at a later date?
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If you do nothing, your payment will go as scheduled, and you will eventually get a check in the mail for any refund based on the amendment.
Generally, you do not amend until your original return has been fully processed to avoid unnecessary delays.
The amendment didn't change your future direct debit.
You can’t change your payment date in TurboTax after your Original return has been accepted, but you can cancel it and make other payment arrangements with the IRS.
You could cancel your direct debit and pay with the voucher the updated amount due. The article below will explain how to cancel your payment.
You can check the status of your amended return here, but allow three weeks after filing for it to show up.
Thank you! You are right that I should have waited to file the amend.
I don't want to cancel my originally scheduled payment. If I do nothing, will IRS mail me a check for the return on the amended filing, and on the designated date then deduct money as scheduled?
If you do nothing, your payment will go as scheduled, and you will eventually get a check in the mail for any refund based on the amendment.
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