Hello, I have been filling my joined tax return with my wife ITIN number and didn't realize her ITIN expired last year and filed my 2019 return. IRS must have sent a letter but never received. IRS accepte the return and send me a letter saying it has expired so you are not eligible for certain credits and they adjusted my refund accordingly (my math says they adjusted it as individual filing). She has a SSN as well for few year now. I called IRS and they suggested to submit letter to update ITIN with SSN to Austin, TX office. IRS told me they will also make adjustment to my 2019 tax return and correct my refund accordingly. My question is, is this the right process without filling amendment? It seems my stimulus payment is on hold until my 2019 refund is processed. So reaching out to community if the above process is correct? thanks!
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Hello, I just realized that I had increased my contribution limit to 19% late last year to reach max contribution limit and never changed it in 2020. So I have been contributing very high amount. I also learned that it’s a mistake as I will reach my max contribution limit soon and have to reduce my contribution for rest of the year but it also means that I can’t get the full company match which will be a loss for me. What are my options? Is it possible to reduce my 401k pretax contribution balance by making an adjustment (don’t know the technical word) by payroll so I can contribute at least 6%(to get full company match) for rest of the year and don’t lose my employer match? Should I continue to over contribute(reduce to needed 6%) rest of the year to get full company match and request return of an excess contribution with adjusted W2 next year? or Should I not worry about the company match loss and reduce the contribution to max $19,500 in 2020? Thanks!
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