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Cdscott
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Why do I have to pay for overpayment if the refund hasn’t been sent? I’m filing an amended tax return for year of 2020. My refund is still processing/under review

I’m filing an amended tax return for year of 2020. My original refund is still processing/under review so I haven’t received the refund or even a deposit date. So, while filing the amended return why does it say that I have to pay federal taxes for an overpayment when I haven’t received the refund and the refund is still processing and under review?
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Why do I have to pay for overpayment if the refund hasn’t been sent? I’m filing an amended tax return for year of 2020. My refund is still processing/under review

You understand that your amended return 1040-X records the difference between your original return and your corrected return, right?

Why do I have to pay for overpayment if the refund hasn’t been sent? I’m filing an amended tax return for year of 2020. My refund is still processing/under review

#1 rule of amending a return .... DO NOT amend until you have the original refund in hand since the amended return assumes you got the original return.  WAIT until you get the refund to file the 1040X.

 

#2 rule of amending a return ...  Column A must match the information from the  latest return filed  OR  as corrected by the IRS. This could be interesting this year with the unemployment exclusion affecting other items on the return. 

 

 

Look at the form 1040X …

Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.

If you completed it correctly you will see an entry on either line 16 OR 18:

On line 16 should be the amount you paid with your original return. If you paid nothing already then this line should be zero.

On line 18 should be the amount of your original refund you received.  If you have not received your refund yet then you need to wait for it.  If the refund changes from what you expected then this line must reflect that change.

Then you will see your extra refund on line 22 OR  the new balance due you need to pay on line 20.

 

 

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