IRS Filing [Should 1040X be filed?]

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GuyInFL
Posts: 129
Joined: Thu Aug 04, 2016 7:17 pm

IRS Filing [Should 1040X be filed?]

Post by GuyInFL » Fri May 04, 2018 11:12 pm

My son is in college, so I helped him file his taxes electronically on about 23 March and he was due about a $100 refund. After we filed, I realized we left some income off and he owed about $1000, assuming the $100 refund came through. I expected the $100 refund to show up before 17 April, but it never did. I had the IRS confirmation from H&R Block Software but when I checked the IRS website on refund status, the IRS shows no record.
Anyway, he went ahead and paid the additional $1000 on 17 Apr and we plan to file a 1040X once the IRS processes his return and refunds the $100. It's now been over 5 weeks and still nothing from the IRS.

I'm hesitant for him to just file a 1040X, based on the 1040 he submitted because I'm thinking the IRS might catch the error and change the return for him.
Should he just file the 1040X now based on the return he submitted?

dbltrbl
Posts: 887
Joined: Thu Mar 01, 2007 11:52 am

Re: IRS Filing

Post by dbltrbl » Sat May 05, 2018 6:50 am

I would just file 1040x now. Explain and be done. If you wait for them interest will continue to accrue. If you used software, i would include a copy of updated 1040 just for their info.

student
Posts: 2671
Joined: Fri Apr 03, 2015 6:58 am

Re: IRS Filing

Post by student » Sat May 05, 2018 7:17 am

GuyInFL wrote:
Fri May 04, 2018 11:12 pm
I had the IRS confirmation from H&R Block Software but when I checked the IRS website on refund status, the IRS shows no record.
No record? This is concerning. I would suggest calling H&R Block.

Longdog
Posts: 1131
Joined: Sun Feb 09, 2014 6:56 pm
Location: Philadelphia

Re: IRS Filing

Post by Longdog » Sat May 05, 2018 7:22 am

dbltrbl wrote:
Sat May 05, 2018 6:50 am
I would just file 1040x now. Explain and be done. If you wait for them interest will continue to accrue. If you used software, i would include a copy of updated 1040 just for their info.
The OP indicated that the additional taxes owed were paid by the filing deadline, so no interest will accrue unless that payment was short, in which case interest will only accrue on the unpaid balance.
Steve

not4me
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Joined: Thu May 25, 2017 3:08 pm

Re: IRS Filing

Post by not4me » Sat May 05, 2018 12:59 pm

When you checked on the IRS web site on the refund, didn't you have to enter refund amount? Well, what if they did spot the problem? They wouldn't be showing the refund....

I don't see a rush to file the 1040X if you are confident the payment was right & thus no interest accruing, etc. But, I'd hate to invest the time calling the IRS to see what they show. If I didn't want to try the phone route, I'd probably wait 4-6 weeks after Apr 17 & send in the 1040x

ccieemeritus
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Joined: Thu Mar 06, 2014 10:43 pm

Re: IRS Filing

Post by ccieemeritus » Sun May 06, 2018 4:07 am

I once got an “unexpected” (forgot that I got final paycheck in January). w2 2 days after submitting my taxes. I submitted the 1040x almost immediately and before April 15th.

I’ve since learned not to do taxes until March.

MarkNYC
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Joined: Mon May 05, 2008 7:58 pm

Re: IRS Filing

Post by MarkNYC » Sun May 06, 2018 3:55 pm

GuyInFL wrote:
Fri May 04, 2018 11:12 pm
My son is in college, so I helped him file his taxes electronically on about 23 March and he was due about a $100 refund. After we filed, I realized we left some income off and he owed about $1000, assuming the $100 refund came through. I expected the $100 refund to show up before 17 April, but it never did...Anyway, he went ahead and paid the additional $1000 on 17 Apr and we plan to file a 1040X once the IRS processes his return and refunds the $100. It's now been over 5 weeks and still nothing from the IRS.

I'm hesitant for him to just file a 1040X, based on the 1040 he submitted because I'm thinking the IRS might catch the error and change the return for him.
Should he just file the 1040X now based on the return he submitted?
Although well-intentioned, it was probably not advisable to send in the additional $1,000 three weeks after filing a 1040 that showed a $100 refund. Doing that will likely cause the IRS some confusion and may cause a delay in the tax return processing. I suspect the IRS will eventually issue a refund of $1,100, either in one check or a check for $100 followed some weeks later by a check for $1,000.

If the unreported income was on a W-2 or 1099, it will probably take 12 to 14 months before the IRS sends out a notice based on the omission, so an amended return Form 1040-X should be filed before then. Line 18 of the 1040-X shows the "refund on the original tax return, or as adjusted by the IRS," so it might properly show either $100 or $1,100. If $1,100, then $1,000 (plus interest) will still be owed with the amended return.

In this situation, I think the best move is to call the IRS to explain what happened and verify the proper way to proceed.

GuyInFL
Posts: 129
Joined: Thu Aug 04, 2016 7:17 pm

Re: IRS Filing

Post by GuyInFL » Sat Jun 02, 2018 4:18 pm

Update...
Looks like a bug in the H&R software caused some of my problems.

The Final filing screen shows a $100 refund due and the AGI for 2017 from the 1040. Originally I though we had left some income off, but according to the AGI listed, the income was in fact included. The H&R Software should have shown that he owed $ and allowed us to enter payment info.

I created an account on the IRS.Gov and reviewed the transcripts to see what was actually filed and the 1040 transcript matched the correct 2017 AGI and it also showed $1000 due. The transcript also shows receipt of the $1000 and the account balance is -$100. (Since the 1040, showed no refund was due, I'm guessing that's why IRS.Gov couldn't find the filed tax return.

The transcript shows the account balance is -$100 I'm guessing at some point the IRS will send a refund of the $100.

This was my first year using H&R Block software. Maybe next year I'll go back to TaxAct. I did try to contact H&R Block, but couldn't find any phone numbers or a way to communicate problems except for their public forums.

GuyInFL
Posts: 129
Joined: Thu Aug 04, 2016 7:17 pm

Re: IRS Filing [Should 1040X be filed?]

Post by GuyInFL » Thu Dec 06, 2018 7:01 am

Final Update...
Check from IRS showed up today so the issue is closed.

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