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bayou_angie
New Member

Had to make amendment after filing was accepted, now we owe. HELP

 
6 Replies
Carl
Level 15

Had to make amendment after filing was accepted, now we owe. HELP

Help what? It would appear you amended your return to add in some income you forgot to include originally, or you removed or reduced some deductions you originally entered in error. So now, you have to pay back some of the refund you received.
bayou_angie
New Member

Had to make amendment after filing was accepted, now we owe. HELP

Haven't received refund as of yet, filed yesterday. Printed amendment papers,do I send with payment now and is it possible to stop receiving direct deposit?
Carl
Level 15

Had to make amendment after filing was accepted, now we owe. HELP

You're amending and haven't received your refund from the original filing yet? Bad move that has the potential to come back and bite you.

If you're already e-filed and accepted return was sent with a direct deposit request, there is no way to change that. Also, if any additional refund is due on an amended return, you will get a paper check for that. The IRS will not do anything other than a paper check for an amended return that will result in you getting money back.

If you have already E-filed your tax return and need to make a change for any reason, then you have no choice but to wait until the IRS processes your E-filed return. If the IRS rejects your E-filed return, then you can just make the necessary changes and resubmit it.

If the IRS accepts your E-filed return, then you must WAIT until the IRS has processed your return. If you have a refund due your return is not processed until you have received your refund. If you owe taxes, your refund is not processed until you have paid those taxes and your payment has cleared your financial institution. Once processing is complete, you will need to file an amended return. You cannot e-file an amended return. The IRS says you can’t. You have to print it, sign it (both the 1040 and 1040X) and mail it to the IRS.

If your E-Filed return is pending, and you change anything on your copy of your return, then you are guaranteed to have major issues with correcting or amending it later. So for your own sanity, do not touch anything until it’s time, as clarified above.

An amended return must be printed, signed and mailed. The IRS says so.

If my return is accepted, why do I have to wait for my refund before I can amend it?

Just because the IRS has accepted your return, does not mean that they agree with it. Sometimes, the IRS will “catch” your error (or some other error you don’t know about) and go ahead and correct it for you. You’ll know that when your refund is not what you expected.  So you have to wait for the refund.  If that happens to you, then you will receive a letter 3-4 weeks after you receive your refund, explaining what was changed, why it was changed, and with instructions on what actions to take if your dispute the change. If you receive such a letter and agree with the changes the IRS made, post in this forum with the details (without including personal information) and we'll try to help you get your copy of the return in agreement with the IRS changes, so you won't have issues importing next year.


bayou_angie
New Member

Had to make amendment after filing was accepted, now we owe. HELP

Thank you so much, can't begin to tell you how relieved this makes me. Today you Carl are my hero.
iron_wind1211
New Member

Had to make amendment after filing was accepted, now we owe. HELP

i filed my w-2 and got another w-2 after i filed and had to wait till march 7th to file ( already had gotten my refund by this time.) and i was able to amend my taxes to add this w-2 . NOW it says i owe the federal over 600. why do i owe and what should i do

Carl
Level 15

Had to make amendment after filing was accepted, now we owe. HELP

Why should you not owe? You reported an increase in income. Now, you have to give some of (or possibly all of) your refund back to pay the taxes on the additional income you reported. Apparently, that 2nd W-2 didn't have enough taxes withheld from it, or it was just enough to put you into the next higher tax bracket.
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