My tax person messed up our 2022 tax return and we received a letter saying we owe money. A lot of money. My husband does ride share as a side job. My tax person failed to submit his ride share tax information. I called the irs and they told me just to fill out the schedule c form and submit any documentation and just wait to hear back from them. My husband decided to have one of his friends who is a cpa file an amended return and re do the taxes and re submit . Do we still pay the taxes that the irs says we owe or wait to hear back after everything is filed from the 2022 tax? We don’t have the money to pay that large sum.
What does the new amended return show? Is there a tax due on line 20? Or does the added Schedule C show a loss on line 31?
Line 18 should be your original refund amount and line 22 should be your additional refund. If you paid on your original return it will be on line 16. If there is an amount owed with the amendment, it will be on line 20.
I’m not sure what the amended tax shows. We just handed everything over to our new tax person in the beginning of the week. He told us not to do anything or send anything in . He said once he resubmits everything, it all should be ok. We are waiting to hear back from him. This is all so confusing. When we originally did our taxes back in 2022, we had to pay almost $5000 to state, local, and federal. We paid it. But like I said. Our previous tax person failed to submit his ride share information and now the irs is saying we owe almost $12,000. Which I find hard to believe. So that is why our new tax person is going to re file everything for us. I originally wanted to fill out the schedule c with all the missing info. But my husband wants it amended and refiled. What do we do in the meantime is my question?
Your tax person owes you a full printout of your revised tax return (form 1040 et. al.), a copy of the submitted Form 1040-X, showing, among other things, the Part III Explanation submitted by your tax person.