I deducted $4800 in the IRA deductions category but I should have put $2400 and my taxes have already been accepted for 2021.

[srellick]

Should I file a 1040 x now or just wait for the refund and can I send the extra money back?

[DanaB27]

Yes, please wait for your refund before filing an amended tax return (Form 1040-X) to correct the IRA amount.

 Please be aware that you can e-file your 2021 amended federal tax return, but most states require amendments to be printed and filed by mail. Please see How to amend a tax return for instructions (this will be updated once the 2021 Form 1040-X is ready).

[Opus 17]

You must wait.

As long as you file the amended return by April 18, 2022, you won't incur interest or penalties on the money you  have to pay back (probably $288 or $528 for federal, less for your state).  You can e-file your federal amended return, some states can also be e-filed but some states must be printed and mailed. 

[dmertz]

You also have the option of contributing another $2,400 to your IRA by April 18, 2022 to make your filed 2021 tax return correct.

[Opus 17]

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@dmertz wrote:

You also have the option of contributing another $2,400 to your IRA by April 18, 2022 to make your filed 2021 tax return correct.

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Good point.  Just make sure to indicate this is a 2021 contribution; there is probably a menu selection if you do the contribution online, or a form you must include if you mail a check.   If you don't make the selection and it goes in as a 2022 contribution, you're still stuck.