For steps on how to easily amend your 2020 federal return please click the link below.
how long will it take before turbo tax will have the 1040x forms ready to amend the 2020 tax? My return was accepted but I cant amend it I get an error stating the forms are not ready.
@txtornado57 wrote:
how long will it take before turbo tax will have the 1040x forms ready to amend the 2020 tax? My return was accepted but I cant amend it I get an error stating the forms are not ready.
Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.
See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577
The IRS Form 1040-X is scheduled to be available on 02/26/2021 (subject to change)
When I do these steps, it says I have to wait until 3/25/21?
You can follow the steps to amend your return once it has been accepted and has not been rejected.
If it is rejected, you can make corrections and resubmit it.
Please follow the instructions to amend your return.
How do I amend my 2020 TurboTax Online return?
General Procedure for "amending the tax returns" is great to know. But the Turbotax 2020 CD/Download version, is just not allowing me to amend my return even after both Federal and State had accepted my returns. Unfortunately there is no discussion thread on this for amendment 2020 FIling , in Turbotax. the software keeps saying that "The Amended Return Area will be ready soon" - when will Turbotax make it available? check back soon means When? will that be before Apr 15 or after Apr 15? WIll appreciate a quick response.
Actually online Turbotax seems to be much better than CD/Download Turbotax. Download Version does not even give any date. Please respond to this thread whenever you complete amending 2020 tax return. thanks for this info.
The amend function will be available after March 25.
If you filed, it is like dropping it into the mail - you cannot get it back if accepted by the IRS or state.
Do not rush to amend - no hurry. You have 3 years to amend and amended returns are taking 6 months or longer to be processed so waiting a few weeks will make little difference and amending too soon might just compound the problem.
To amend your 2020 tax return:
-- First, *wait* to see if your return has been accepted or rejected by the IRS or state. DO NOT do anything until you receive the accept or reject e-mail.
-- If rejected, you can correct and re-send your return.
-- If accepted you should *wait* until your return has been processed and you receive your refund or conformation that any tax due has been paid. (If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time). In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment – a sticky process that can take a year or more).
-- Then you can start the amend process.
It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it. That is the only proof of mailing that the IRS will accept.
-- Amended returns can be mailed or e-filed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.
See this TurboTax FAQ for help with amending:
https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed
You can check the status of your amended return here but allow 3 weeks after filing for it to show up:
https://www.irs.gov/filing/wheres-my-amended-returnThe amend function will be available after March 25.
If you filed, it is like dropping it into the mail - you cannot get it back if accepted by the IRS or state.
Do not rush to amend - no hurry. You have 3 years to amend and amended returns are taking 6 months or longer to be processed so waiting a few weeks will make little difference and amending too soon might just compound the problem.
To amend your 2020 tax return:
-- First, *wait* to see if your return has been accepted or rejected by the IRS or state. DO NOT do anything until you receive the accept or reject e-mail.
-- If rejected, you can correct and re-send your return.
-- If accepted you should *wait* until your return has been processed and you receive your refund or conformation that any tax due has been paid. (If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time). In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment – a sticky process that can take a year or more).
-- Then you can start the amend process.
It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it. That is the only proof of mailing that the IRS will accept.
-- Amended returns can be mailed or e-filed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.
See this TurboTax FAQ for help with amending:
https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed
You can check the status of your amended return here but allow 3 weeks after filing for it to show up:
https://www.irs.gov/filing/wheres-my-amended-return
Hello I have a personal interest in your situation as I am also in the same group as you. My return was accepted and I've received my refund from one W2 I submitted, well I received 7 more W2s in the mail that I somehow forgot about, a week here a couple days there, (it won't be much money) when I was job hunting during initial virus outbreak I unfortunately went from job to job. I also received the 3/25/21 availability date for access to the 1040X form. Is this an IRS date across the board? Regardless have to wait now I guess and hope I can get those W2s added as they should have been to start with.... my mistake tho.
...............THIS GUY IS CORRECT IN HIS REPLY........................
YOU COVERED EVERY ASPECT, I CAN CONFIRM THE DATE IS 3/25/21. I AM WAITING TO ADD W2S/ I ALREADY RECEIVED REFUND FOR 1st W2/ I HAVE SEVERAL TO (ADD). WHICH I WILL DO WHEN I RECEIVE EMAIL FROM TURBO TAX SAYING THE 1040X IS READY?...... this is my understanding, which I think is correct....
To amend your return, wait to see if your return has been accepted or rejected by the IRS or state. If rejected, you can correct and re-send your return. If accepted you should wait until your return has been processed and you receive your refund or confirmation that any tax due has been paid. If you file an amended return while your first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time. In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment. Amended returns can only be mailed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.
This Turbo Tax FAQ will show you how to amend your return. How to amend (change or correct) a return you already filed. When to amend
I'm with you, waiting to be able to amend my 2020 filing as well. I get the same message that IRS isn't ready yet for amendments.
@Erot The 1040X Amendment form will be available for filing on 3/25/2021. At that time, you can then follow the instructions in this FAQ here to amend your 2020 tax return.
@macuser_22 "Don't be in a hurry to amend too soon."
Umm, I got a huge refund on Feb 24, 2021 and now I have a triple huge amount due. I'm concerned about penalties for not withholding enough.
You can pay any tax due directly to the IRS reguardless of when you file. You just enter the tax paid in the "taxed paid" section when you file.
Because amended returns are currently taking up to 6 months to process, interest an penalties will start after April 15, so if you owe additional tax it should be paid prior to Apr. 15 regardless of when you amend.
See this IRS article for how to pay:
what are you talking about? I don't owe, I just want to amend my filing. My question was when can I amend? please someone answer this.
@Erot wrote:
what are you talking about? I don't owe, I just want to amend my filing. My question was when can I amend? please someone answer this.
See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577
The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)
I have efiled my 2020 tax and was accepted on 2/18/2021.How do I amend it? Where do I find the 2020 1040X?Can I e-file 1040X on turbotax or do I have to submit the form by mail? Thanks.
@weichen1947 wrote:
I have efiled my 2020 tax and was accepted on 2/18/2021.How do I amend it? Where do I find the 2020 1040X?Can I e-file 1040X on turbotax or do I have to submit the form by mail? Thanks.
If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.
Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.
See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577
The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)
@macuser_22 I'm referring to if you don't withhold enough prior to year end (Dec 31, 2020) you can also have penalties. I did not withhold 80% of my taxes or as much as the year before. Because the gov't just sent me a huge refund that I don't deserve, does that count against me? I will pay the refund and what I owe by Apr 15, 2021. I just need to know if the clock started ticking on the refund money.
@ErotSorry I hijacked your thread. As @macuser_22 said, you can file an amendment as soon as the form is available and your original tax return and refund/pymt owed has been processed. Or you can wait as long as 3 years as long as the govt has the money you owe them by Apr 15, 2021. If you don't owe them, you want to get your refund ASAP.