I recieved a W-2 for less than $500. after I filed my taxes. Do I have to file an amended return?

Question

We filed a joint return but my income was 0. And then I got this W-2 in the mail. It's for me from the last week of 2005. I forgot about it. Do I need to file an amended form or can I just forget about it? If I file it they will owe me.

Answer 1

absolutely, positively, yes. otherwise they will just catch you and possibly hit you for penalties and interest. If you or husband involved in other illegal activities, they could use it as a device to get you, like they did with al capone

Answer 2

Yes, you must file amended tax return Form 1040X. You should not rush to file amended tax return. Take your time and recheck your tax return. Make sure to file on or before April 15, 2010 and pay the tax due. If you do not file the amended tax return, sooner or later, may be even after more than a year, you will get a tax bill from IRS. The amount will include interest and penalty and will be much more than you actually owe. 1099-misc income: You will report your income and business related expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is not subject to SE tax as the amount is less than $400.

Answer 3

You must report all income you received. You can not wait to file it next year. Next year's taxes are for what is earned this year in 2007 only. Do an amended return for both your federal and state.

Answer 4

Yes, you have to file an amended return. If this ends up that they owe you rather than the other way around, then you'll gain by it.

Answer 5

Yes, you must report all income received. And the IRS gets a copy of the W-2 information so they will catch you if you don't.

Answer 6

Yes.

Answer 7

You don't have to claim it as long as it is under $500, or you can wait til next year and claim it next year.