Irs asking for 8962

[Bone-of-the-T]

Hi, I have received a letter from IRS asking for 8962 and 1095-A. I have done some research online and already have them ready. However, I still have few related questions need your help. 

1). I accidentally followed an older article on this forum and finished amending my tax in order to get the form. I know that if I don't mail the 1040X it won't officially get amended. Is it necessary for me to unamend on my turbotax too? 

2). Because of this new adjusted form, I found out that I owe IRS few hundred dollars more. How can I make the payment? Should I may a check with the forms?

3). In the letter, it didn't ask me for the 2nd page of 1040. But since my amount has changed, should I send it too?

Many thanks!

[AnthonyC · Accepted solution]

(1)  It's not necessary to undo your amended return on TurboTax now.  But, if you were ever to really need to amend your return, then you would need to undo the amendment to get your return to the proper amounts so you could then amend.  I will include a link to an article below on how to undo an amended return.  But, it can be a bit tricky sometimes, so you might want to just worry about it if you ever actually need to amend.

https://ttlc.intuit.com/questions/2552802-how-do-i-cancel-or-undo-an-amended-return-in-turbotax-onli...

(2)  For this payment, I would use the IRS online direct pay, so there is no possibility that your check gets lost or misapplied.  I have included a link below to the IRS Direct Pay (you can pay via bank account or cards).  Make sure you indicate that you are paying for your 2017 return Form 1040 (and not for a 1040X or ES).  If you want to pay by check, then just make sure you include your SSN, Form 1040 and TY 2017 on the check.

https://www.irs.gov/payments/direct-pay

(3)  Even though it wasn't requested, since your amount did change, there is no harm in sending the signed page 2 just to avoid any possibility of a follow-up request for it later.  The IRS would just throw away the page if they don't need it. 

[Bone-of-the-T]

Thanks you very much for the information, this is really helpful! I just have two more concerns that need your help regarding this.

1) If I ever get asked to amend my tax return, shouldn't I just give them the one I already done? Why do you think I need to undo the amend and then redo it?

2) There's seems to be a information mismatch between Turbotax calculation and the information on the updated 1040 form. So after I added the 8962 information during the amend process, Turbotax is telling me there's a $324 due for my federal tax. However, after I calculate the information on the updated 1040 myself by using the "amount you owe" on section 78 subtract the one on the older form(which I already paid), the final number is $332. And the reasons I believe is because the estimated penalty fee had increased. But for some reasons, in the final review Turbotax is still telling me the amount I need to pay is $324. Do you know which one should I pay?

[AnthonyC]

(1) I'm talking about if you have to amend your return for a different reason (i.e. maybe next year you realize you forgot you sold stocks this year and need to include that income).  Right now, your 1040 is updated to include the 8962 information and that is now your "original return."  This is why the IRS tells you not to send an amended return because they don't want you to actually amend, they just want you to update the numbers on your original return (its really done this way because this is widespread every year because the marketplaces are terrible at getting the forms out to people on time, so the IRS doesn't want to have to process tons of amended returns).  But, if you ever needed to go back and really truly amend your return, the Form 1040X numbers won't calculate correctly unless you base the amended return on your "new" updated Form 1040.  Right now, it would base the numbers off your old Form 1040.

(2)  Going on the information you have given it seems that maybe the program didn't include the additional underpayment penalty.  Are you seeing an $8 difference on Line 79 where the underpayment penalty would be located?  Technically, there is an option to not pay the underpayment penalty now and you can have the IRS calculate it and bill you later.  So, that might be why it wasn't added to the additional amount (it usually does though unless you tell the program to bill you later).  If you are confident in your calculation, then I would just pay the $332 now and not have to worry about possibly being billed for it later.

[Bone-of-the-T]

Thank you so much you are truly my hero! So since they just wanted to have an update on the 1040 in this case and I have done it on my end. Should I also send them a complete copy of 1040(both 1st and 2nd page) so it could get updated on their end as well?  And yes I am seeing the $8 difference on the underpayment penalty. Since they will bill me eventually for this fee so I guess I'll just pay it together now. After I made the payment, should I also include a letter stating that I have make the payment in the package responding to IRS's letter?

[AnthonyC]

No, don't send the page 1 (they have that information already) and don't send a letter - it will just get thrown away.  In the end, all they care about is that you make the payment - just be sure to mark it correctly as 2017 Form 1040 when you pay online (it will give you choices)