My 3rd child isn't on my eic form and it's already been accepted by the IRS. What do I do? Am I losing refund money?

[jgkeathley]

My children are 1,3 and 5. All lived with me for 12 months. My youngest isn't listed on my eic form. Am I losing any refund money? What do I do?

[xmasbaby0 · Accepted solution]

You say you already e-filed it? You cannot change or add anything on the return that you just e-filed, nor can you stop it.  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 2-4 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

[SweetieJean]

When you do, be sure to indicate that the 1 year old lived with you all year. And always review your return before filing it.

[jgkeathley]

I know that turbotax says my return was accepted. My question now is.. am I potentially losing money? If so, what do I stand to gain by amending my return? What is the dollar amount?

[xmasbaby0]

We cannot tell you how much $ you are losing, but you are losing.  EIC is based on how much you earned and your filing status. It is complicated.

[jgkeathley]

Turbotax didn't give me the option to review the forms as the weren't "finalized". I filed on the 17th. My 1040a lists all of my children but not my eic form. I got an email on the 18th saying my return was accepted. Turbotax must have a bug in their system. I provided all the necessary information. And I even reviewed my questionnaires two times. Turbotax failed me this time.

[xmasbaby0]

EIC or child tax credit?  Do you have a child who turned 17 in 2017--if so you lost the child tax credit.  You lose that for the year the child turns 17.