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TT cannot release the 2020 1040-X form until the IRS approves TT's version (programming ) of it. The current date for that is March 25. But you should not amend until the IRS has fully processed your original return, as they might adjust it. And note that the IRS is taking about 6 months to process amended returns, even if efiled.
Do not rush to amend - no hurry. You have 3 years to amend and amended returns are taking 6 months or longer to be processed so waiting a few weeks will make little difference and amending too soon might just compound the problem.
It probably will not be processed until August or September anyway.
-- If accepted you should *wait* until your return has been processed and you receive your refund or conformation that any tax due has been paid. (If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time). In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment – a sticky process that can take a year or more).
I will do something immediately due to the fact that the adjustment brings our AGI below the limit for stimulus check payments.
Is there any way to contact the IRS to ask them to reject a return that was just submitted?
I forgot to deduct our IRA contributions. That is the only thing I need to change.
@portals wrote:
I will do something immediately due to the fact that the adjustment brings our AGI below the limit for stimulus check payments.
Is there any way to contact the IRS to ask them to reject a return that was just submitted?
I forgot to deduct our IRA contributions. That is the only thing I need to change.
Once the tax return has been filed it cannot be changed, canceled or retrieved.
If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.
Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.
See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577
The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)
@portals wrote:
I will do something immediately due to the fact that the adjustment brings our AGI below the limit for stimulus check payments.
Is there any way to contact the IRS to ask them to reject a return that was just submitted?
I forgot to deduct our IRA contributions. That is the only thing I need to change.
No. Nothing you do now will change anything for many months.
No. Unfortunately you cannot contact the IRS to reject a return that has been accepted.
TurboTax expects Form 1040X to be available on or about March 18.
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