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New Member
posted Jan 31, 2023 7:33:59 AM

Do I need to refill my taxes? Just filed 01.29.23 and I got a pension payout that withheld 20% federal tax only adds 5k(have not gotten anything tax wise yet from them)

I filed my state and federal on Jan 29th.
I never got anything from the government for a tax form for the pension of 7k (minus the 20% witholding) so I got 5k last December. Will my tax return be rejected and will I have to repay to file again?

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1 Replies
Level 15
Jan 31, 2023 8:15:32 AM

You should have waited for the 1099R that will be coming to you for the retirement money you received.  That was supposed to be entered on your tax return.

 

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.

 

If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.

 

Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return. 

 

 If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.

 

  Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed

 

The Form 1040X you need will not be available until late February.