Filed and asked refund 10 days ago:
Federal: received (not approved yet)
State: refunded
Electronically amended today and I chose to pay the due from my bank account in May:
(refund is more than due)
Q1: Will Federal refund the difference or they refund the amount of my first tax return and withdraw the due from my bank account later in May?
Q2: TurboTax asks me to print 525-TV and mail with my payment however I chose to pay from my bank account, so is it correct that I just mail 525-TV or I don't need to do anything at this part?
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Q1: Will Federal refund the difference or they refund the amount of my first tax return and withdraw the due from my bank account later in May?
you didn't make it clear but it appears you chose to make e-payments
good question. since you can withdraw the May payment, the IRS may only refund the excess without the May payment and later refund the May payment
Q2: TurboTax asks me to print 525-TV and mail with my payment however I chose to pay from my bank account, so is it correct that I just mail 525-TV or I don't need to do anything at this part?
the 525 is to accompany a mailed-in payment. since you chose to e-pay do not mail it in otherwise they may send a notice asking for the payment
Thanks for answering.
I think my Q1 is a little confused, sorry about that. Please let me re-state this question.
I filed tax return 10 days ago and asked refund 1000 dollars (for example) and direct deposit to my bank account.
Now IRS status shows received
Today I amended and I owe 100 dollars (for example, lol), I chose e-pay with my bank account in May
So my question is "What should I expect?"
1. days later, IRS will refund me 900 dollars directly deposit to my bank account
2. days later, IRS will refund me 1000 dollars directly deposit to my bank account and take 100 dollars from my bank account in May? (or maybe take 100 in May and refund me 1000 later)
First time ever have this situation....
Thank you very much for concerning my questions!
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