DawnC
Employee Tax Expert

After you file

Yes, you are required to amend.  You have to report ALL of your income, so it is not optional.   Depending on how much was withheld in Box 2, it is very likely that your second W-2 will lower the amount of the refund you are getting, so don't assume you do not owe on it.    The amending software is not ready yet, but it will be later this month.   Wait until your original return is processed and you received your refund before you amend in the event the IRS makes the adjustment.   

 

How to amend (change or correct) a return you've already filed

 

 

Most people see their refund go down, sometimes by a lot, after entering a second W-2. This is because we start you off with the full standard deduction, which we subtract from the income you’ve entered so far. You don’t get this deduction with each W-2 you enter, just the first one. This means your second W-2 will appear to be taxed more, but what’s really happening is that you’re getting a more accurate picture of your income.    To see an example, click here.  

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