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1lburrow1
New Member

I have already file my taxes and received a refund. Now I received another 1099 MISC. How do I report this now?

 
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DDollar
Expert Alumni

I have already file my taxes and received a refund. Now I received another 1099 MISC. How do I report this now?

Since your return has been accepted by the IRS, you have two choices: 1) File an amended tax return to add your Form 1099, or  2) You can wait for the IRS to realize you didn't include your Form 1099 and send you a letter.  The information on your 1099 is reported to the IRS.  They will match up information they received with what you reported on your tax return.  If it doesn't match, they will propose a change to your tax return, and calculate any additional tax you owe, or refund you are entitled to receive.  If you agree, you won't have to anything, other than pay the additional tax.

Keep in mind, if you file an amended return, you will have to print and mail it.  According to the IRS, A Form 1040X, Amended U.S. Individual Income Tax Return can take up to 16 weeks to process once we [The IRS] receive it.


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1 Reply
DDollar
Expert Alumni

I have already file my taxes and received a refund. Now I received another 1099 MISC. How do I report this now?

Since your return has been accepted by the IRS, you have two choices: 1) File an amended tax return to add your Form 1099, or  2) You can wait for the IRS to realize you didn't include your Form 1099 and send you a letter.  The information on your 1099 is reported to the IRS.  They will match up information they received with what you reported on your tax return.  If it doesn't match, they will propose a change to your tax return, and calculate any additional tax you owe, or refund you are entitled to receive.  If you agree, you won't have to anything, other than pay the additional tax.

Keep in mind, if you file an amended return, you will have to print and mail it.  According to the IRS, A Form 1040X, Amended U.S. Individual Income Tax Return can take up to 16 weeks to process once we [The IRS] receive it.


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