Hello,
I filed my taxes over the weekend, however browsing over them the other day I noticed that I mistakenly filled in the wrong amount for the 4th payment on my estimated tax paid. I had entered $500, which was actually the 4th payment I'd paid for the previous 2020 years' taxes. For 2021, I paid $807 for the 4th payment.
I already overpaid the estimated taxes for 2021 anyway and will be getting a refund, this adjustment will just mean an extra $307 added to that amount coming back, but is this something that I need to file an amendment for right away, or will they notice it upon their own reviewing? The e-file was already accepted without issue and so far I haven't heard anything.
If an amendment must be made, what description would I put for the explanation? As the change is fairly straightforward, should it be a simple explanation or does it need to be detailed?
Thanks in advance!
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If you amend your Part III should explain what you did in plain english.
The clearer you can be the faster IRS can approve your amendment.
HOWEVER,
You don't amend for Estimated Tax errors.
IRS knows what estimated payments you made and will adjust accordingly.
If you amend your Part III should explain what you did in plain english.
The clearer you can be the faster IRS can approve your amendment.
HOWEVER,
You don't amend for Estimated Tax errors.
IRS knows what estimated payments you made and will adjust accordingly.
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