turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

1040-V and amended return reducing tax owed

E-filed in February and scheduled payment (wire transfer) for April.  Subsequently got a corrected 1099-DIV from my brokerage which reduced my tax burden by $450 or so.  E-filed the amended returns and was instructed to print out a 1040-V and mail it in along with payment (my original owed amount less $450).

 

Since I scheduled my original return to pay automatically via wire, do I need to mail in this payment voucher at all (and include a check)?  Thinking no but worried the amendment somehow canceled my wire transfer for my original return.

 

tl;dr - E-filed and set to auto pay via wire but amended and now owe less.  Do I need to do anything beyond filing the amended return?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MaryK4
Expert Alumni

1040-V and amended return reducing tax owed

Did you efile your amended return?  If you did not, it takes the IRS weeks to process paper returns.  If you have the payment set up for April, it will draw the original amount unless the amended return is processed before the payment is due.  The IRS will refund you the difference if the original payment is processed before the amended return is.  Because there is time, you can call IRS e-file Payment Services 24/7 at 888-353-4537 to inquire about or adjust, or cancel your payment.

Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

3 Replies
MaryK4
Expert Alumni

1040-V and amended return reducing tax owed

Did you efile your amended return?  If you did not, it takes the IRS weeks to process paper returns.  If you have the payment set up for April, it will draw the original amount unless the amended return is processed before the payment is due.  The IRS will refund you the difference if the original payment is processed before the amended return is.  Because there is time, you can call IRS e-file Payment Services 24/7 at 888-353-4537 to inquire about or adjust, or cancel your payment.

Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

1040-V and amended return reducing tax owed

I did e-file the amended return and have received confirmation it was accepted.

 

Will I receive some additional confirmation once it's been processed?  Sounds like it might be wise to call the IRS anyway.

 

Thanks for the response.

DawnC
Expert Alumni

1040-V and amended return reducing tax owed

No, you won't receive additional confirmation, so you should probably call the number that Mary gave above to adjust the scheduled payment.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question