Different amounts owed + quarterly payments after amending return

[natalieerachel]

I received a 1099-Misc form last week after I had already filed, so I amended the return today and noticed several different numbers when I compared my tax return documents:

The previous return stated that: 

• I owed $2,271 (which I have already paid)

• estimated quarterly payments for 2021 are $1,094

After amending my return with the 1099-Misc (a small sum of about $1,100), my amended return says:

• I will receive a refund of $1,092 

• estimated quarterly tax payments for 2021 are $295

• includes a Form 1040-V payment voucher that says to pay $1,179 for 2020.

All that to say, I am very confused about why the numbers are so different. Which amount do I pay for my quarterly payment? And am I supposed to pay the Form 1040-V? I wasn't given the option to pay that amount when I e-filed.

[npierson7]

No, you don't need to pay $1,179.  You would have to  pay if you didn't pay your balance due yet. Since you did pay that, you will receive refund $ 1,092. And your new estimated payments are lower, however the estimated payments are not always accurate;  you can do estimate payments based on pervious calculation to avoid having balance due in  2021. 

[natalieerachel]

Thank you so much!