The IRS gets that information and if you file without reporting the information on both of your W-2's that have your social security number on them, you will have a problem! You need to report both W-2's on your return.
I have already filed my w2,but forgot I have another coming by mail from my current employer. How would I go about filing it when I receive it?
You cannot change or add anything on the return that you just e-filed. It is too late, just like when you put an envelope in a US mailbox
Now you have to wait until the IRS either rejects or accepts your return. The IRS will begin processing returns on January 23, 2017. If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.
If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund. THEN you can prepare an amended tax return and mail it in. You will need to use a form called a 1040X. You cannot e-file an amended return. They have to be mailed, and it takes at least 3-4 months for the IRS to process an amended return. Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
If you don't report all of your income, then the IRS will send you a notice in the mail. All tax forms are sent to both you and the IRS. When you file a tax return the IRS matches the forms up with what you report on your tax return. If something is missing (and a computer will always catch a W-2), then they'll send you a notice and also a bill for anything you owe. If you have a refund, they probably won't bother letting you know (they're sneaky like that).
What do you mean they probably won't bother letting you know? Will they just take the difference out and send the rest to you?
If you owe more money - they'll catch it! And, yes, probably a 90% chance they'll take the difference out and send the rest to you. If you are due more of a refund - they'll wait for you to request the additional refund by way of an amended return.
Will they still send the original refund? If another w2 you forgot to add would boost my current refund. For example with the w2 I used I'm getting a refund of 2715 and I added the other w2 after I filed (on a different website but didn't submit it) and it boosted it to 3695. Will I still get the original 2715 I already filed.
Yes, most likely. Keep your eye on the site: <a rel="nofollow" target="_blank" href="https://www.irs.gov/Refunds">https://www.irs.gov/Refunds</a> as your refund *might* be delayed a bit.
Thanks for answering I've been wondering for the past couple days cause I got another w2 I didn't think I was going to get. Should I file an amended return after I get my refund?
Yes, for both Federal and State. (If you're lucky, the IRS/State will adjust your refund without you having to do anything... but I wouldn't hold my breath)
Honestly i've "forgot" many times and not once over the course of 10 years has the fed ever come knocking at my door. some years without reporting i was given back more tax money than i would have got if i filed both (which means i'd owe). It's all a matter of chance. i don't think the fed will be worried if you owe 100 bucks. People are so dramatic and fearful of the IRS when it's just like any other bureaucracy bogged down by pointless paper work trying to squeeze the american public for every lost drop it's worth some people get lost in the cracks.
I couple people I know got there's and I got accepted before they did I think on the 20th but still today my refund still hasn't been approved... I just hope I get them next week.
You bet they will catch it. You cannot just under-report your income because you want a bigger refund.
You started off with your first W-2 and your refund look pretty good? Then you added another W-2 and it stopped looking so good? That is normal. When you added more income, your tax liability increased, so you saw your refund decrease. The program begins by giving your your personal exemption of $4000 plus your standard deduction—both of which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2. Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.” Wait until you have entered ALL of your income and deduction information. You can't really tell anything until it is all entered. That “refund monitor” does not mean anything until everything has been entered.
hey guys. I filed my taxes for the first time ever a couple days ago. My return was excepted by the IRS and I can track it and everything, but I'm going to get another W-2 in the mail soon from a previous employer. What should I do if my first W-2 was already excepted and filed ? help please
You cannot change or add anything on the return that you just e-filed. It is too late, just like when you put an envelope in a US mailbox
Now you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.
If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund. THEN you can prepare an amended tax return and mail it in. You will need to use a form called a 1040X. You cannot e-file an amended return. They have to be mailed, and it takes at least 2-3 months for the IRS to process an amended return. Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
Thank you everyone for your questions and answers they all helped me better understand a lot about amendment taxes.
How to you get 1040X ? Because I forgot I was going to get other W2 and than I already did my taxes and I don't know much about this because this is my second time doing them
I filed my taxes about a week ago, and afterwards got a 1099 in the mail for prize winnings from the Perk app - apparently I made $612 so they needed to be filed. I am expected to receive a tax refund of about $4,000 - My question is, will the IRS now reject my return or just deduct whatever is supposed to be deducted from my refund? I know that they too got a copy from PERK of that 1099. Thanks!