After receiving our tax refund, my wife received a form (believe it was 1099 or W-2) for income she received as a substitute teacher (minimal amount). Since we already filed and received our refund, what do I do?
2007-04-11 02:36:51 · 6 answers · asked by gratefuldad2002 2 in Business & Finance ➔ Taxes ➔ United States
The same thing happened to us a year ago. We had already received our refund and then over a month later we received another W2 in the mail. We were not sure what to do at that point but within several months the IRS sent us a notice saying that they refigured our taxes based on the additional W2 and now we owed (a minimal amount). So basically, you have to send what you owe at that time (or make payments) to correct the situation. However, in hindsight if we had known we could of filed an amended return and just corrected it as soon as we received the additonal W2 (it was from the same company my husband worked for!). Eventually they will catch the error even if you do nothing, but you probably should just file an amended return--I'll put the link below so you can print it out! Hope that helps~
2007-04-11 05:05:22 · answer #1 · answered by MarineMom 6 · 0⤊ 0⤋
File an amended tax return, 1040X, and include the income on it. Even if it's minimal, if you received either a 1099 or a W-2, so has the IRS and they will be looking for it eventually on your tax return. You'll probably also have to file an amended state tax return as well. If it's a 1099 you should put it on a Schedule C, as you can then deduct any expenses you had against the income, mileage, supplies, etc.
2007-04-11 02:43:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
File an amended return, including ALL of your income for the year, and pay whatever additional tax is due by sending a check with the amended return. Do this before 4/17 to avoid any penalties or interest.
2007-04-11 02:59:20 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No. The IRS requires you to file all your income on one tax return. If you filed 2 returns, you would be claiming the standard deduction and personal exemption twice, which obviously isn't allowed. If you try to file 2 returns, the 2nd one will automatically be rejected because the e-file system will notice that your SS# was already used. At that point you would be required to file an amendment.
2016-05-17 08:55:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
File an amended tax form
2007-04-11 02:38:59 · answer #5 · answered by bigdawg197 3 · 2⤊ 0⤋
If it is minimal the IRS probably won't send agents after you. However, the ethical thing to do is file an amended return.
2007-04-11 02:40:26 · answer #6 · answered by ropman1 4 · 0⤊ 1⤋