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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
I had a 1099-.C that i had no idea about and they wanted about $2K. with the amendment and 982 form i only have to pay about $120 but don't know if that will affect my 2018 if i file now while that's all in the process...
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
No, you do not have to. But know, if you are due a refund for 2018, the IRS may take the amount in order to clear the past debt owed. Most people do not wait and will file even when past tax returns are being reviewed and worked on. Once the situation is resolved, the IRS will let you know what the balance due is, if there is one remaining, and if not, and you are due a refund they will process that for you.
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
No, you do not have to. But know, if you are due a refund for 2018, the IRS may take the amount in order to clear the past debt owed. Most people do not wait and will file even when past tax returns are being reviewed and worked on. Once the situation is resolved, the IRS will let you know what the balance due is, if there is one remaining, and if not, and you are due a refund they will process that for you.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
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If i filed a 2016 amended return, form 982 (insolvency) and still owe a small amount, should i wait until that's all cleared up before i file 2018 ?
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