I finished my taxes, refund happens tommorrow. Received diff. w2 in mail. Need the refund, will I get it?

Question

I really need the deposit, how often do they find mistakes? I don't mind when they do and setting up a pay plan, but I REALLY need it. Thanks.

It was a new w2 for a company I worked for 2 months, begining of the year.

Answer 1

YOU WILL RECEIVE YOUR REFUND AS EXPECTED, HOWEVER YOU WILL NEED TO FILE AN AMENDED (1040X) RETURN...THIS ONE WILL HAVE TO BE MAILED IN...YOU MAY WANT TO GO AHEAD AND FIGURE OUT WHAT THE DIFFERENCE WILL BE SO THAT IS YOU HAVE TO SEND ANYTHING BACK TO THE IRS YOU WILL KNOW HOW MUCH NOT TO SPEND....
AS FAR AS THEM CATCHING MISTAKES...THEY ALWAYS CATCH THEM JUST A MATTER OF HOW LONG IT'LL BE B4 THEY DO...AND IF IT TAKES EM 5 YEARS TO FIND IT WELL THEN 5 YEARS WORTH OF INTEREST AND PENALTIES WILL BE ADDED TO ANY TAX DUE...SO IT IS NOT REALLY SOMETHING YOU WANT TO FOOL AROUND WITH... THE 1040X IS BASICALLY A SUMMARY OF THE TAX RETURN...
FIRST YOU TAKE THE NUMBERS ON THE ORIGINAL RETURN DROP 'EM IN COLUMNN A THEN REDO YOUR RETURN WITH THE CORRECT INFO...THE IN COLUM C ON 1040X DROP THE NEW (CORRECT) NUMBERS COLUMN B IS TO PLUG THE DIFFERENCE BETWEEN THE TWO. PAGE 2 OF 1040X IS FOR EXPLANATION OF WHY U DID AMENDMENT... WHEN YOU MAIL IT THE 1040X GOES ON TOP THEN THE NEW TAX RETURN, IF YOU HAVE HAD TO ADD A W-2 YOU MUST ATTACH THAT W-2 YOU DO NOT HAVE TO ATTACH ANY W-2'S REPORTED ON THE ORIGINAL... MAKE SURE U HAVE SIGNED BOTH THE 1040X FORM AND THE TAX RETURN
U CAN FIND THE 1040X HERE
http://www.irs.gov/pub/irs-pdf/f1040x.pdf
U CAN EVEN HIGHLIGHT AND FILL N ON THIS FORM
GOOD LUCK

Answer 2

While they will catch the error, it will probably not be until well after the filing deadline. When they catch it, you'll be billed for the added tax PLUS penalties and interest. And if you think you need the $$$ now, wait until you see what those penalties and interest add up to! (If the IRS thinks that you deliberately withheld the W2 to get a refund that you weren't entitled to, they probably will NOT be amenable to setting up a payment plan.)

You must file an amended return on Form 1040X and pay any additional tax due by April 17, 2007 to avoid any penalties and interest.

If they catch the error before issuing the refund (unlikely, but possible) they will simply re-calculate your tax and adjust the refund or send you a bill for any tax due, as appropriate.

Answer 3

Wait until you get the refund, and then get an amended return prepared to add the missing W-2 income to your return. As long as you file your amended return by April 17 and pay the tax due by that date, then you will not be charged any penalties or interest.

If you do not have the money to pay the tax due, then file for an offer in compromise and work out a payment plan with the IRS.

Answer 4

You must report that income. you need to file an amended return
form 1040X and mail it in. You will get your refund, but you might end up owing on the additional income, send payment with the 1040X and have it in before 4/17/2007 to avoid penalties and interest

Answer 5

what do you mean recieved a different w2? was the first on incorrect or is it another on in addition to the first one?

Answer 6

different w2... but how is it different ...more, less something else different..... if w2 is different and you owe, irs will pickup in there matching of documents.