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The Watercooler
Anyone ever filed an amended tax return?
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<blockquote data-quote="susiestar" data-source="post: 405652" data-attributes="member: 1233"><p>You can also just put the money aside in the bank and wait. In about 6-8 mos the IRS will send you a letter saying that the info they got from W2's doesn't match your return and that they have calculated everything and the difference is $X. You can then either pay it, set up a payment plan or get it refunded if they owe you $$. This has happened to us twice. Once we owed because we didn't know to expect a W2 from something husband's company did (cannot remember it but it was not usual for companies), and once they owed us a bundle. We hadn't claimed enough deductions. When we owed I think the penalty was about $25 total. </p><p> </p><p>You are NOT going to go to jail over this. It was an honest mistake and millions of tem are made each year.</p></blockquote><p></p>
[QUOTE="susiestar, post: 405652, member: 1233"] You can also just put the money aside in the bank and wait. In about 6-8 mos the IRS will send you a letter saying that the info they got from W2's doesn't match your return and that they have calculated everything and the difference is $X. You can then either pay it, set up a payment plan or get it refunded if they owe you $$. This has happened to us twice. Once we owed because we didn't know to expect a W2 from something husband's company did (cannot remember it but it was not usual for companies), and once they owed us a bundle. We hadn't claimed enough deductions. When we owed I think the penalty was about $25 total. You are NOT going to go to jail over this. It was an honest mistake and millions of tem are made each year. [/QUOTE]
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Anyone ever filed an amended tax return?
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