I have submitted both Federal and State electronically and realized that I forgot the interest from the savings account. Do I need to fill out an amendment to fix the error?
2007-02-22 09:55:08 · 3 answers · asked by Lisa S 1 in Business & Finance ➔ Taxes ➔ United States
If you discover an error after your return has been mailed, you may need to amend your return. The service center may correct errors in math on a return and may accept returns with certain forms or schedules left out. In these instances, do not amend your return!
However, do file an amended return if any of the following were reported incorrectly:
your filing status
your total income
your deductions or credits
Use Form 1040X (PDF), Amended U.S. Individual Income Tax Return, to correct a previously filed Form 1040 (PDF), Form 1040A (PDF), or Form 1040EZ (PDF). If you are filing to claim an additional refund, wait until you have received your original refund (you may cash that check). To avoid penalty and interest, if you owe additional tax for a current year amended return, file Form 1040X and pay the tax by April 17 of the current year.
2007-02-22 11:33:01 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes, you need to file an amended return on Form 1040X and pay the additional tax by April 17, 2007.
2007-02-22 18:34:02 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
For the feds, file a 1040X for the year you screwed up. I am sure there is a comparable form for your state, but you didn't say what state you're in, so I can't help ya. Just call your state revenue ofc. I'm sure they'll be happy to help you pay more taxes. ;) Get it done before 04/17, so you don't get penalized if you owe a little bit.
2007-02-22 17:59:36 · answer #3 · answered by Tom's Mom 4 · 0⤊ 0⤋