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Correct form 8938 mistake after e-filing before the due date. (2020 return)
- I omitted several foreign accounts on the return I e-filed yesterday. I didn't realize empty or inactive accounts that earned no income also had to be reported.
- What is the best way to correct this mistake so that it doesn't count as being overdue to avoid possible penalties?
- I saw some advice in another related question (https://ttlc.intuit.com/community/taxes/discussion/re-form-[product key removed]/01/1376996) that I should wait for the money to deducted (I owed taxes) then file an amended return. Is that the recommended solution?
- I also read that superseding returns exist. Is there any practical difference between using that vs just filing an amended return before the due date for my case?
- My return was accepted but the money has yet to be deducted from my bank account. Waiting for that to happen may push me after the May 17 due date. Should I go ahead and amend now anyways?
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May 14, 2021
11:21 AM