topic Re: Should I amend or wait? in After you file

Should I amend or wait?

RLP07 — Thu, 11 Apr 2024 22:16:49 GMT

I failed to report $27.00 0f interest income on my 2023 return. I'm due a refund for Federal and State taxes. Should I amend the returns now or wait until I get the refunds. Returns have been accepted. Thank You

Re: Should I amend or wait?

MarilynG1 — Thu, 11 Apr 2024 22:25:25 GMT

Wait until you receive your refund to submit your Amended Return. It will not 'catch up' to your original return and correct it; it will be processed separately and may take several weeks.

Be sure to save a copy of your originally filed return. You may want to see if the additional $27 actually changes the bottom line of your original return. If not, you don't need to amend; just keep the documentation for the interest in case the IRS inquires. Click here for more info on Do I Need to Amend?

Here's detailed instructions on How to Amend Your Tax Return.

Re: Should I amend or wait?

RLP07 — Sun, 14 Apr 2024 13:04:34 GMT

Marilyn, thank you for your help.