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Should I amend or wait?

I failed to report $27.00 0f interest income on my 2023 return.  I'm due a refund for Federal and State taxes. Should I amend the returns now or wait until I get the refunds.  Returns have been accepted.  Thank You 

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2 Replies
MarilynG1
Expert Alumni

Should I amend or wait?

Wait until you receive your refund to submit your Amended Return.  It will not 'catch up' to your original return and correct it; it will be processed separately and may take several weeks. 

 

Be sure to save a copy of your originally filed return.  You may want to see if the additional $27 actually changes the bottom line of your original return.  If not, you don't need to amend; just keep the documentation for the interest in case the IRS inquires.  Click here for more info on Do I Need to Amend?

 

Here's detailed instructions on How to Amend Your Tax Return.  

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Should I amend or wait?

Marilyn, thank you for your help.

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