PatriciaV
Employee Tax Expert

After you file

Significant activity would typically result in sufficient tax liability to trigger underpayment penalties. However, if you believe you have paid (or will pay before the April filing deadline) most of the tax that will be due on your final/amended return, then you may decide to file your return by the normal deadline.

 

There is no penalty for filing an amended return. The only downside comes if your adjusted taxable income on the amended return creates additional tax that is subject to underpayment penalties and interest.

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