I had already done orginial filing, then had to do amendment. After mailing amendment, I got letter from Mortgage company with an new 1098 saying that IRS decided to add insurance premiums and so I now have to do another amendment. I am worried that if I wait for my first amendment to process before mailing in this latest amended return it will put me behind in getting the state money owed for taxes since deadline is mid April and I might not hear back from IRS regarding the first amendment by then.
I just need to know, if my federal tax return with IRS isn't done processing yet, can I go ahead and mail in new amended return to both Federal and State?
When it comes to submitting returns to the IRS or your state, it is generally best to only have one outstanding return processing at a time.
You never know whether the state or the IRS will catch something during the processing and automatically correct your return and then notify you about the change.
Also, you should know that the deadline for amending your return (especially for an additional refund) is not the same deadline as filing your original return. You have up to 3 years from the filing deadline of your original return to amend it. So there is plenty of time in that regard to make the correction for the PMI change.
Take a look at the information below for some further guidance about whether you even need to amend your return based on the new information from your mortgage company.
https://ttlc.intuit.com/replies/6749144
You shouldn't have sent ANY amended returns in until the original return had completed processing....now if IRS changes your original tax return, that amended return you already sent wont be correct.
When it comes to submitting returns to the IRS or your state, it is generally best to only have one outstanding return processing at a time.
You never know whether the state or the IRS will catch something during the processing and automatically correct your return and then notify you about the change.
Also, you should know that the deadline for amending your return (especially for an additional refund) is not the same deadline as filing your original return. You have up to 3 years from the filing deadline of your original return to amend it. So there is plenty of time in that regard to make the correction for the PMI change.
Take a look at the information below for some further guidance about whether you even need to amend your return based on the new information from your mortgage company.
https://ttlc.intuit.com/replies/6749144