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I filed my w2s and have already recieved my refund. I helped out a family last year part time for a short time. No w4 filled out. They just requested on2/1 info for 1099.

Do I contact IRS? Will I be penalized? Is it unrealistic to ask for help from them in paying the potential penalties?
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MichaelMc
New Member

I filed my w2s and have already recieved my refund. I helped out a family last year part time for a short time. No w4 filled out. They just requested on2/1 info for 1099.

No, you will not be penalized for reporting income from a Form 1099 that you receive late. You will want to file an amended tax return, using Form 1040X. To avoid interest on any amount due, you will want to file before April 15, 2019, the original due date of your 2018 tax return.

The IRS allows you to file an amended return only to correct your filing status, to cure any errors you make in claiming dependents, to increase or decrease the amount of income you originally reported (such as including an omitted Form W-2 or Form 1099), and to add or eliminate any deduction or credit.

Amended returns cannot be e-filed. Your must print, sign, and mail Form 1040X, along with a corrected copy of any affected form or schedule.

You should allow sufficient time for the IRS to process your original tax return before filing an amended return. I would suggest, in your present circumstances, since the IRS has processed your original return and issued a refund, that you could filed the amended return as soon as you can.

For more information, please see Video: How to Amend My Tax Return.

 


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1 Reply
MichaelMc
New Member

I filed my w2s and have already recieved my refund. I helped out a family last year part time for a short time. No w4 filled out. They just requested on2/1 info for 1099.

No, you will not be penalized for reporting income from a Form 1099 that you receive late. You will want to file an amended tax return, using Form 1040X. To avoid interest on any amount due, you will want to file before April 15, 2019, the original due date of your 2018 tax return.

The IRS allows you to file an amended return only to correct your filing status, to cure any errors you make in claiming dependents, to increase or decrease the amount of income you originally reported (such as including an omitted Form W-2 or Form 1099), and to add or eliminate any deduction or credit.

Amended returns cannot be e-filed. Your must print, sign, and mail Form 1040X, along with a corrected copy of any affected form or schedule.

You should allow sufficient time for the IRS to process your original tax return before filing an amended return. I would suggest, in your present circumstances, since the IRS has processed your original return and issued a refund, that you could filed the amended return as soon as you can.

For more information, please see Video: How to Amend My Tax Return.

 


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