Does my previously scheduled payment continue after filing an amended return?

[ea_banks]

Due to a corrected 1099 my tax was decreased so my amended return shows a refund.  Does my previously scheduled payment still go through or do I need to still send in payment from my original return?

[Mike9241]

If you used the IRS website to schedule payment - go back and cancel it. 

Federal tax direct debit payments can be canceled up to two business days prior to the debit date. To cancel, call the U.S. Treasury Financial Agent at 888-353-4537.

however, make sure the amended return is not taking into account this payment.

[VolvoGirl]

You probably still have to pay the original tax due.   Then the amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 should be your additional refund. If you paid on your original return it will be on line 16 (but don't include any penalty on 1040 line 38). If there is an amount owed with the amendment, it will be on line 20.

[ea_banks]

Thank you Mike9241.  TurboTax did make me print out a 1040-V payment voucher but said nothing about canceling my previously scheduled payment to the Treasury.  Or what to do about my State return (refund in this case so maybe it's OK).  I would've ended up paying Feds twice if I didn't cancel the scheduled payment and also sent in the payment voucher!  I assumed the originally scheduled payment minus the modest refund shown on my amended return would add up to my total due for the year.  But I can see where that would be a bad assumption because of the corrected 1099.  

TurboTax: room for improvement here where taxes are due and subsequent amended returns are filed.  A nice note notifying us to cancel previously scheduled payments.  Also, why show a refund on the amended return and also a 1040-V showing payment due.  Why not subtract the refund from the amount due on the 1040-V??

P.S. - Maybe time for a new brokerage - 2nd year in a row where Schwab has sent a corrected 1099 late in the game.

[VolvoGirl]

Ignore any 1040V voucher that prints out and the new 1040. Those are what your return would have been if you had not needed to amend.

[ea_banks]

Good idea VolvoGirl.  But the numbers don't quite add up.  I think my problem was that when I received the notification about the corrected 1099 that I opened my TurboTax return and entered the new information to see if it was worth the trouble to amend it (without using the "Amend a Return" button).  TurboTax autosaved the file with the new numbers and now the original is gone.  Fortunately, I saved a PDF of it to see the previous numbers.  The original 1040 amount due shown is higher by $47 (penalty charge) than 1040X line 16.   Now if I subtract the refund  amount shown on the 1040X (line 21) from line 16 it is $32 less than what is shown on the 1040-V?!  Is the penalty $15 less now for some reason?

[ea_banks]

Ooops, already replied to your previous before seeing this.  So, I should leave the previously scheduled bank payment with the Treasury in place and just wait for the refund from the 1040X?

[VolvoGirl]

What changed on the amended return if you entered the new info before amending?  Have you filed the amended return?  If you haven't mailed or efiled the amended 1040X then you need to undo it and then take out the new info and put your return back to the way it was originally filed.  Then you can amend it property.

How to delete an Amended return in the Online version

How do I cancel or undo an amended return in TurboTax Online?

[ea_banks]

Only the updated 1099 information was changed.  Once I entered that information, I saw that it was worth filing an amended return (I never had to do this before).  But the original file was already autosaved before I exited that return and then used the "Amend a Return" option (I have already filed for both Federal and State).  But the currently scheduled (original) payment amount minus the refund amount from the 1040X is a small enough amount that I'll just pay the extra few bucks and not waste unknown hours bouncing around the Treasury Dept. phone tree to cancel the current payment.  Thanks to you both for the help!