2022 Amend federal tax question

[Casey007]

I filed my 2022 return in early March it was accepted by IRS , then a week later I received more documents from financial institution which lowered my refund. Now do I need to amend my return? If yes, then do I mail it to IRS before April 15 while they are still processing my original return? Or wait until I get a refund and then file the amended return? Now, since amended return shows I owe IRS, will they charge me penalty/interest?

Please someone help, very confused.  Thanks.

[KatrinaLO · Accepted solution]

Yes, you will need to amend the original return that was accepted. If the IRS accepts your return, you have to wait longer until it has been fully processed and you have received your refund.  Then you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.

Meanwhile, do not go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed.

You can e-file your 2022 1040-X. Please see this TurboTax FAQ for information on amending your tax return and steps to follow for success.