Error in filing? forgot to enter one annuity federal tax withheld.

[mjayna123]

how do I correct my tax filing?

[macuser_22]

If you filed, it is like dropping it into the mail - you cannot get it back if accepted by the IRS or state.

To amend your 2019 tax return:

-- First, *wait* to see if your return has been accepted or rejected by the IRS or state. DO NOT do anything until you receive the accept or reject e-mail.

-- If rejected, you can correct and re-send your return.

-- 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).

-- Then you can start the amend process.

It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it. That is the only proof of mailing that the IRS will accept.

-- Amended returns can only be mailed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.


See this TurboTax FAQ for help with amending:

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed

You can check the status of your amended return here but allow 3 weeks after filing for it to show up:
https://www.irs.gov/filing/wheres-my-amended-return

[Critter-3]

This is an error the IRS usually finds and corrects automatically ... do NOT mail in an amended return until you know if they have already fixed the error. 

[macuser_22]

Yes they will, but it it usually takes at least a year before the IRS does the match.  When the IRS catches it then you will get a bill for the tax plus interest starting July 15, 2020 plus possible late penalties.   Amending will still get you a bill for the interest until they receive your payment, but will stop the interest.

[Critter-3]

That is if the error is in the IRS favor ... missing withholding is in the taxpayer's favor so there is no penalty.  I say to wait until this return has been fully processed ... if the IRS doesn't catch it now you don't need to wait years to amend.  

[macuser_22]

Tax withheld on an annuity or pension is often the default 20% that for many taxpayers in higher tax brackets is not enough to pay the tax.