you will need to file a amended tax return and mail it to the IRS. you do that before April 15, and pay any additional tax, and its no harm, no fowl, just a headache.
use this form
http://www.irs.gov/pub/irs-pdf/f1040x.pdf
2007-01-25 08:10:48
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answer #1
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answered by Jen 5
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You're not going to get in trouble, but you will have some aggravation - you'll have to file an amended return 1040X showing the changes to your original filing. Do NOT just file another return - you'll spend months straightening it all out! Don't file the amended return until a few weeks after you sent in the original., but do it before April 15 to avoid possible interest or penalties.
2007-01-25 18:00:07
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answer #2
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answered by Judy 7
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You need to file a 1040X (an amended tax return) you can go to the IRS website and download the form and instructions. Just follow the instructions and then after you are done send it in like you would any other return. You wont get in trouble if you file an amended return thats what they are for.
2007-01-25 08:14:08
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answer #3
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answered by emeraldsky21 2
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Yes you should. It will be flagged about two years later and come up for review. At that point the auditor will redo your return, bill you for the tax and assess interest and penalties on the deficiency.
I was a revenue agent and I had the same situation come up with one of my clients. It was a smaller amount, less than $6,000, but I had to charge her about $1,050 for delinquent taxes plus interest and a negligence penalty.
1040X is the way to go, and you still have until April 15 to file and pay without being late.
2007-01-25 08:09:18
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answer #4
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answered by Anonymous
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in case you report a paper return, all W-2s must be linked. in case you e-report, the e-report provider is legally required to acquire W-2s formerly submitting your return. in case you knowingly pass over any earnings, you're in command of tax fraud. The IRS says that in case you do no longer acquire your W-2 by ability of Feb 15, you ought to touch the IRS at a million-800-TAX-1040. in case you're that desperate for funds, you need the cheap, no longer a tax refund.
2016-11-01 06:57:28
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answer #5
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answered by gripp 4
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If you entered your information from the W-2 accurately - it shouldn't be a problem at all.
2007-01-25 07:56:05
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answer #6
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answered by Bill S 3
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