Used the wrong year's W-2

[erikseath79]

I literally just submitted my taxes, and realized that I used the 2015 W-2 instead of 2016.  I am getting a refund of about $7500 due to claiming 3 dependents (MN).  1) What do I do asap to fix this?  2) Lets say that the irs accepts the refund and doesnt reject it; Can I just let it be?  3) I havent filled 2015, yet, either, so I could just enter 2016s for 2015? 4) The only things that would be different (I dont have 2016 with me) would be the wage (it would be a more like 35k instead of 30k) and possibly what was withheld, but with my write-offs and claiming the kids again, I am not sure it would be that different?

[Shayna]

First you will have to wait for the IRS to accept or reject your return.  If they reject it you will have the opportunity to redo the return entering the correct income.  If they accept the return you will have to amend the 2016 return.  It is important to note you should not "leave it be" this may be problematic in the future.  You can also complete your 2015 with us if you download the appropriate software using this link: https://turbotax.intuit.com/personal-taxes/past-years-products/

[erikseath79]

How long do you think it will take to know if they accept it?  I found the amend link on turbotax, so I can do that as soon as they decide.

[Shayna]

24-48 hours