i filed last 2005 taxes with 2006 forms what do i do?

Answer 1

If you prepared your return yourself, you can fix it by using a form 1040X. Download the form and instructions from the IRS at www.irs.gov. The 1040X is basically a form that allows you to list the original amounts listed on your 1040, 1040A, or 1040EZ form and then list the corrected amounts in a seperate column. The additional tax owed or additional refund is calculated at the bottom of the form. You then mail it in with any supporting documents and schedules (especially new ones or ones that have changed).

I would strongly suggest you not wait for the IRS to contact you since additional taxes owed (if any) will have penalties and interest tacked on now that we are beyond the 2006 deadline. If you did not fill out a 2005 return, you can still send a 2005 return in (again, ASAP) with your 2005 information correctly reported.

Finally, if you are unsure or worried about what you are doing, contact a tax professional (the big companies should have year round service available in your area). Take them a copy of all your W-2s and prior tax return(s) submitted. They have to have a copy of the original return so they can match it as close as possible in their computers.

Answer 2

If you also filed for 2006, one of the two, most likely the second one to arrive at the IRS, will get rejected.

By filing the 2005 return on 2006 forms, your total tax amount is calculated wrong, so you might owe additional tax with the amended form - assuming it was accepted in the first place.

Call the IRS and they should be able to tell you which one was accepted. They won't have accepted two that look like 2006 returns. The you'll have to file the other one, and also if the 2005 on 2006 forms was accepted, amend 2006 to show your actual 2006 numbers.

If you efiled your real 2006 and it was accepted, then it's the 2005 one you have to fix - you'd just have to do it over on the 2005 forms using 2005 instructions, and mail it in. This would be the simplest scenario to fix.

This could be a pain to fix, especially if the 2005 return on 2006 forms is the one accepted (then you'd have both years to correct) but you're not going to be in some major trouble over it. If you owed on your 2005 return, there will be interest and penalties for late filing, but that's about it.

Answer 3

Well, now the IRS thinks you've filed 2 returns for 2006. Either they'll figure out that one was for 2005 because you attached 2005 W-2's or they'll send you a letter asking which one is the righ one for 2006.

Either way, you WILL get a letter because the tax tables, deductions, etc. changed between 2005 and 2006 so chances are, you didn't do the 2005 return correctly.

A Damn Fine Tax Advisor

Answer 4

you will could desire to record each and every return separately. you may have complete you 2005 tax return and mail it in. you do not could desire to do something on your 2006 tax return on the subject of your 2005 tax return. they're separate only record it like primary.

Answer 5

I'm guessing you filed 2 returns on 2006 forms, correct? You should contact the IRS to sort this out. If you don't, they'll be in touch shortly but it's in your best interest to contact them first.

Answer 6

Don't worry. The facts will show clearly that it was an honest mistake so they won't bite your arm off. Just call them ASAP to let them know.

Answer 7

Well tax day was over...So your in deep trouble for submitting wrong information. All I can say is visit your tax service immediately and get your information fixed or who knows what will happen