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Recieved W-2C with new lower wages due to overpayment by employer

I received a new W-2C (corrected) for 2021 from my employer last week.  In 2021, I was overpaid $1,700 by employer (their fault) and I asked them to correct the problem.  The repayment wasn't until calendar year 2022 (even though I tried to repay earlier).  So, the corrected W-2c has lower numbers for boxes 3 through 5, BUT not box 1.  In the end, when amending via TT, this doesn't change my refund???  Amount refund remains $0 which baffles me.  And, since the refund is $0, do I need to file an amendment and send a paper 1040 to the federal and state (Virginia) tax offices?

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2 Replies
LindaS5247
Expert Alumni

Recieved W-2C with new lower wages due to overpayment by employer

No, you do not need to amend your return if you received a corrected tax form after filing (the corrected box is checked) and the new info does not change your refund or tax due amount.

 

Click here for information on if you need to amend your tax return.

 

Click here for IRS" Should I File an Amended Return:" and click on Begin.

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rjs
Level 15
Level 15

Recieved W-2C with new lower wages due to overpayment by employer

In 2022 you repaid $1,700 that you reported as income in an earlier year. You don't file an amended return for a repayment. If the repayment had been over $3,000 you would have been able to claim a deduction or credit on your tax return for the year that you repaid it, 2022. But under the current tax law there is no tax adjustment for a repayment of $3,000 or less. So you do not file an amended return or do anything else. There is nothing for you to do.

 

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