Ammended Return for 2020

[markdmor]

Good afternoon.

I just filed a return for 2020 (Feds and California), it was accepted, I owe (Feds and California), and I automatically scheduled the payment to occur on April 1.  

However, I just found out that that return is not correct and I am actually due a refund (Feds and California).  

Do we know when I can e-file an ammended return (1040x)?  I heard it will not be until March 25,2021, but was hoping to confirm.  When I go into TurboTax PC it says the "... the IRS is still working on finishing up the Amended Return area (Form 1040X) for 2020."

Also, will I have to pay the original amount on April 1, then get that money back plus the refund or will they be able to stop the original return, just process the ammended return, and just get the refund?

Finally, it looks like the Feds accept e-file ammended returns, but does the state of California or will that have to be paper?

Any help you can provide would be greatly appreciated.

Thank you.

[Cynthiad66]

You will be able to amend around March 25.  The original return will be processed as is. There is no stopping the processing of the return once you hit transmit unless it is rejected.

You are able to cancel your payment:  How to Cancel a Payment

• Once your return is accepted, information pertaining to your payment, such as account information, payment date, or amount, cannot be changed. If changes are needed, the only option is to cancel the payment and choose another payment method.
• Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your return was accepted before calling.
• Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.

Once you cancel the payment you can amend the return.  Now this is not a quick process.  Being able to e-file the Amended Return is awesome but processing will take a few weeks.

If you need additional assistance, please contact us again.

[markdmor]

Thank you.  Do you know if I will be able to file an electronic amended return for California also?  If so, will that also be around March 25?

[Cynthiad66]

No.  You will lneed to print  and mail in your California return.  You can prepare your Amended return using TurboTax for Free.  Follow the instructions below.

By the time you get to the Important: Read and Follow Your California Amend Instructions screen, we’ve already transferred info from your federal 1040X to your

California amended return.

Move through the following screens to review your info and make any needed changes.

Review/update your California return

Final steps

[markdmor]

Thank you.  I assume I need to wait until I electronically file my amended Federal return at the end of March then print out and mail my amended California return?  I can not print out and mail my California return before since TurboTax will be transferring data from my Federal 1040x to my California return?

I assume the process is something like this...

End of March... electronically file my Federal amended return, then print out and mail my California amended return?

Thanks again for all your help!!! 

[CarissaM]

Yes that would be the exact right process. 

Prepare and file your amended return for federal and state together at the end of March. 

[HMSTULTS]

information on amending and e-filing a 2020 return that has been accepted

[HMSTULTS]

where can I find directions for making and e filing an amended return?

[DawnC]

Don't amend your tax return yet, if you are amending your 2020 tax return for the unemployment exclusion.  The IRS has not decided how they are going to handle those returns yet.  The most recent IRS regarding unemployment can be found here.   

You can amend e-filed returns if they've been accepted; paper-filed returns may be amended once they've been mailed.    If your e-file is still pending, you won't be able to make changes until the IRS either accepts or rejects it.

Select your tax year for amending instructions:

• 2020 - First, make sure you really need to amend and that your 2020 return was accepted in TurboTax Online or paper-filed through the mail. You can't amend a return that hasn't been filed yet.
• 2019
• 2018
• 2017

@HMSTULTS

[Spangma]

I E-filed 2020 Fed and CO State forms and all were accepted.  I filled out the Amended 2020 TurboTax forms for both Fed and CO State forms and E-filed.  Fed 1040 X was immediately accepted.  How do I know if the State form was actually E-filed, or if I need to mail it in?

[AmyC]

CO does not accept e-file amended forms. You will need to print, sign, and mail with tracking to be sure your information arrives safely.

@Spangma