When to Amend 2020 Return

[C0rn3r570n3]

I filed my 2020 state and federal tax return in February.  I owed $600 on the federal and I was suppose to get a $2000 refund from the state of California. 

I have not received my refund from the state yet so I called the FTB.  They said there was an error on my return.  They said my tax withholdings was higher than what they calculated by about $4K resulting in a tax due the state of $2,100. 

I double checked and they were correct.  Somehow I downloaded my 1099R from Schwab twice and Turbo Tax added the withholding twice ($4K).  But then I realized Turbo Tax also added the 1099R income of $45K twice. 

So after I deleted the second Schwab amounts, Turbo Tax shows I am should get a refund from the federal and state.  The question is when should I submit the amended returns now or later.  I have not paid the federal taxes yet.  I only filed the return.  

[DianeW777]

Now. Your return is close, if not already processed.  Here is helpful information to prepare your amended returns.

• How to amend (change or correct) a return already filed (and accepted at the IRS)
  • Review the information here to be sure you need to amend your return.
• Steps to amend my 2020 return

Expect delays due to these challenging times and so many actions required from the IRS (stimulus reconciliations, release stimulus three, American Rescue Plan Act and more).

[C0rn3r570n3]

Thanks.  Should I pay what I owed ($627) on the original return on the assumption the IRS will not get to my amended return for 16 weeks?  With my amended return, I am due a refund of $2,030.  With my California amended return I am due a larger refund.  I completed a schedule X.  I am sending the amended return, the amended federal return and supporting documents for the changes.  I understand I will receive a check mailed to me.  Is all this correct?  Thanks again.

[DMarkM1]

You do not need to pay the original amount owed to the IRS since the amendment shows a refund larger than the amount originally owed.  Your refunds will be delivered in then manner you select on your returns (check or direct deposit).  You are correct, you need to send in the amended returns and copies of any supporting documents for the changes.