How do I amend 2020 federal which has been accepted

[Erot]

I'm with you, waiting to be able to amend my 2020 filing as well. I get the same message that IRS isn't ready yet for amendments.

[EbonyL122824]

@Erot The 1040X Amendment form will be available for filing on 3/25/2021. At that time, you can then follow the instructions in this FAQ here to amend your 2020 tax return.

[ruthejp13]

@macuser_22  "Don't be in a hurry to amend too soon." 

Umm, I got a huge refund on Feb 24, 2021 and now I have a triple huge amount due.  I'm concerned about penalties for not withholding enough.

[macuser_22]

You can pay any tax due directly to the IRS reguardless of when  you file.   You just enter the tax paid in the "taxed paid" section  when  you file.

Because amended returns are currently taking up to 6 months to process, interest an penalties will start after April 15, so if you owe additional tax it should be paid prior to Apr. 15 regardless of when you amend.

See this IRS article for how to pay:

https://www.irs.gov/payments

[Erot]

what are you talking about? I don't owe, I just want to amend my filing. My question was when can I amend? please someone answer this.

[DoninGA]

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@Erot wrote:

what are you talking about? I don't owe, I just want to amend my filing. My question was when can I amend? please someone answer this.

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See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

[Erot]

sorry, new to boards and didn't see the other posts 🙂

[weichen1947]

I have efiled my 2020 tax and was accepted on 2/18/2021.How do I amend it? Where do I find the 2020 1040X?Can I e-file 1040X on turbotax or do I have to submit the form by mail? Thanks. 

[DoninGA]

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@weichen1947 wrote:

I have efiled my 2020 tax and was accepted on 2/18/2021.How do I amend it? Where do I find the 2020 1040X?Can I e-file 1040X on turbotax or do I have to submit the form by mail? Thanks. 

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If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

[ruthejp13]

@macuser_22  I'm referring to if you don't withhold enough prior to year end (Dec 31, 2020) you can also have penalties.  I did not withhold 80% of my taxes or as much as the year before.  Because the gov't just sent me a huge refund that I don't deserve, does that count against me?  I will pay the refund and what I owe by Apr 15, 2021.  I just need to know if the clock started ticking on the refund money.

@ErotSorry I hijacked your thread.  As @macuser_22  said, you can file an amendment as soon as the form is available and your original tax return and refund/pymt owed has been processed.  Or you can wait as long as 3 years as long as the govt has the money you owe them by Apr 15, 2021.  If you don't owe them, you want to get your refund ASAP.

[doppa]

As of 2/28, today, TT still says that the 1040X for 2020 returns filed and accepted is not available.  When will this become available?  1040X is available from the IRS but, apparently, not from TT.

[1tlbragg]

I need to amend 2020 federal and it has been accepted and I received the refund, but tubo tax will not allow me to amend at this time

[macuser_22]

The amend function will be available after March 25.

Do not rush to amend - no hurry. You have 3 years to amend and amended returns are taking 4-6 months or longer to be processed so waiting a few weeks will make little difference and amending too soon might just compound the problem. (If you amend today you probably will not see the results until August or September).


To amend your 2020 tax return:

-- If accepted you should *wait* until your return has been processed and you receive your refund or conformation that any tax due has been paid. (If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time). In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment – a sticky process that can take a year or more).

-- Then you can start the amend process.

It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it. That is the only proof of mailing that the IRS will accept.

-- Amended returns can be mailed or e-filed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.


See this TurboTax FAQ for help with amending:

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed

You can check the status of your amended return here but allow 3 weeks after filing for it to show up:
https://www.irs.gov/filing/wheres-my-amended-return

[gits380sl]

I did not include the 2nd stimulus check of $600.00 I need to file an amendment, however I have not yet received my refund.  Do I still have to wait till I get my refund before amending?

[macuser_22]

Wait to see if the IRS automatically applies it for you.