Amended Tax Return

[tammlyn2003]

I amended my tax return 2 weeks prior to the tax deadline which changed my status from a balance due to a refund owed, but I still received a tax bill with interest from the original tax return. What do I do? My amended tax return is still unavailable on the IRS website.

[VolvoGirl]

Yes you still have to pay the original tax due.  In fact you should not amend until the first return is fully processed and you pay the first tax due.  Then the amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 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.

[tammlyn2003]

Oh, wow! I did not know this. I electronically filed my taxes in March, and it said I owed $4500. I was going to wait to send a check on the tax deadline; however, about 2 weeks later on 4/3/2023, I received another charitable giving summary statement that I forgot about and amended my tax return to add it. The amount was enough to lower my tax bracket to get a refund of $121.  Since I corrected everything before the deadline, I thought the IRS would accept the correct tax return. It doesn't seem logical to bill me, especially after they accept the amended tax return.

[fanfare]

Please review the 1040-X that you submitted.

Consult Line 16.

Does it say  $4,500 ?

If so, there's your answer.

@tammlyn2003 

[VolvoGirl]

Well check the 1040X amended return.  Does the $4,500 show up on line 16 as paid?  What happens if you change line 16 to zero?  Print out the 1040X and write 0 on line 16 and redo the math to the bottom by hand.  

[tammlyn2003]

Yes, Line 16 says $4500.

[VolvoGirl]

That means you had to pay it.  Turbo Tax thinks you paid it.  Line 16 should be zero since you didn't pay the 4500.  That will change the amended refund or tax due.  Read my post above.

[VolvoGirl]

If you didn't pay the 4500 then amended return should show a new tax due of $4,379, not a refund.  The extra charity contribution reduced your taxable income on your return which reduced the tax liability on 1040 line 24.  You still have a tax due.  It didn't turn your tax due into a refund.  Just reduced the amount you owe by 121.  

[tammlyn2003]

Yes, I figured it out now. I'm not sure why it showed as paid. (It probably assumed it from my previous response)  I've bit the bullet and paid the bill. Thanks for your comprehensive answers to my question.

[fanfare]

Your amended return refund should cover your penalty and interest with a few bucks left over.

Expect a 1040-X to take six months or longer to be approved.

As of May 27, IRS currently has1.47 million unprocessed Forms 1040-X.

@tammlyn2003