Today TaxMama® hears from various folks in the TaxQuips Forum and elsewhere with another common problem. “I filed my tax return and then got another W-2, 1099, or a corrected 1099 from my brokers.
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What should I do now?”
Dear Friends,
I get lots of questions from folks who leave something off a tax return, then realize it immediately afterwards.
Don’t panic.
Here’s what you do:
Wait about a week or so for the federal return to process. If you have a refund coming – when you receive the refund, you know the IRS is done with your return.
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Then go ahead and amend your Form 1040.
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Print out the revised form, not just the 1040X (for your files and to go with the state returns).
For people who have state tax returns that are affected, do the same thing if you have already filed it.
If you haven’t yet filed the state return or multiple state returns, use the amended 1040 (not the 1040X) as your starting point and companion to your state return(s).
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See how simple that is?
And remember, you can find answers to all kinds of questions about filing errors and other tax and business issues, free. Where? Where else? At www.TaxMama.com.
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