form with copy of 1095-A. Additionally, I need to amend my return for an IRA contribution. Can I send the 1040X and the 8962 at the same time even though the form says I do not need to send a 1040X?
Did the letter you got from the IRS "specifically" instruct you to send the IRS an amended return? I ask, because I have never heard of that being requested by the IRS when they ask for the 1095-A and 8962. We can still help you to generate the 8962. But if the letter did not specificially instruct you file an "amended" return, then do not under any circumstances do so.
If you don't follow the instructions in that letter to absolute perfection, you WILL have issues that WILL delay processing your return and WILL delay any refund for quite a long time if a refund is expected.
It says I do not need to file an amended return. I do need to file the amended return for a different reason. The two issues are not directly related.
If I file the 8962 by itself, I'll owe a significant amount of money.
Do NOT send in an amended return right now ... it will confuse the issue. Only file the amended return AFTER the original return has finished processing.
I'm telling ya, if you file an amended return now, you will find yourself in a never-ending nightmare with the IRS from which you will *never* awaken. Without amending, go into the return and work through the healthcare section again to add the information from your 1095-A. That will generate the 8962 that you need to send to the IRS along with a copy of the 1095-A. Per the letter you can mail or fax it to them. I suggest faxing it because your currently filed and accepted return will get processed significantly faster.
"I'll owe a significant amount of money. "
Doesn't matter. Pay it anyway. If you need to amend for other reasons, then when you do that "later" after the currently filed return is processed, then you'll get some (if not all or more) of what you pay now, back as a refund with your amended return.
Get this done "NOW" so that what you pay now will be before the Apr 15th deadline. To help speed up the process of processing your return by the IRS, after you fax the documents to the IRS, you can go online and pay what you owe at <a rel="nofollow" target="_blank" href="http://www.irs.gov/payments">http://www.irs.gov/payments</a>. You can pay with credit card, or via bank draft directly from a bank account.
Now after you've faxed the 8962 and 1095-A to the IRS "and" paid what is due, wait at least 10 business days before amending your return. THen when you mail in the amended return it will take the IRS 6-8 weeks to process it.
Amended returns can not be e-filed. THe IRS says so. YOu have to print, sign and mail it to them. Since amended returns are processed by hand, that's why it takes 6-8 weeks before you'll get any refund due as a result of amending the return. If a refund is due with an amended return, the IRS will cut a paper check and mail it to the address on your most recently filed return. They will not pay your refund due any other way with an amended return.
You do not need to pay anything right now ... just send the IRS the forms they requested ... then when they send you the bill you can mail in the amended return with the payment required on the 1040X.
Do NOT amend the return YET since your original return has NOT finished processing yet ... until you provide the 8962 & 1095-A to the IRS and they have finished processing the originally filed return do NOT send in an amended return as you will only mess they up and can cause further delays.
So you will NOT use the amendment process to produce the 8962 ... instead log in and scroll down and click on ADD A STATE to complete the original return properly. ONLY when you have received the original refund or paid the original balance due should you mail in the amended return. If you have started the amendment process by mistake you should undo it.
1. Open your return if it’s not already open.
2. In the left menu select Cancel amend.
3. Select Yes, I want to cancel my amended return.