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 4 weeks ago '05        #1
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Profitcy 
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Help right quick
 

 
i did my taxes before i got my w-2s.... now they owe me money what should i do.... wait? I know i gotta fill out the 1040 x form.... but when do i do it.... can the funds accrue? Do ammended taxes have a due date? How long could i wait if i owed them? None of yall C.P.As?




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 4 weeks ago '05        #2
pnoi89  topics gone triple plat - Number 1 spot x1
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So..... You filed your taxes with incorrect information since you didn't have your W2 yet?

If you have to amend your taxes, it'll take up to 16 weeks to process per the IRS:



As for deadlines, it's a pretty generous deadline:
"To avoid delays, file Form 1040-X only after you've filed your original return. Generally, for a credit or refund, you must file Form 1040-X within 3 years after the date you timely filed your original return or within 2 years after the date you paid the tax, whichever is later."



If you owe, it'll accrue interest over time, so you can wait as long as you want theoretically unless you owe a significant amount; whereas, if the IRS owes you, they could careless if you take your sweet a*s time trying to amend the difference owed to you lol.

Note that I am not a CPA and you should consult with an actual CPA for advice.
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 4 weeks ago '05        #3
Profitcy  OP
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 pnoi89 said
So..... You filed your taxes with incorrect information since you didn't have your W2 yet?

If you have to amend your taxes, it'll take up to 16 weeks to process per the IRS:



As for deadlines, it's a pretty generous deadline:
"To avoid delays, file Form 1040-X only after you've filed your original return. Generally, for a credit or refund, you must file Form 1040-X within 3 years after the date you timely filed your original return or within 2 years after the date you paid the tax, whichever is later."



If you owe, it'll accrue interest over time, so you can wait as long as you want theoretically unless you owe a significant amount; whereas, if the IRS owes you, they could careless if you take your sweet a*s time trying to amend the difference owed to you lol.

Note that I am not a CPA and you should consult with an actual CPA for advice.
I appreciate the info.....pretty much gives me exaclty what i needed....i think ima just wait then....nice to know the govt owe me money for a change.....i aint hurting for a couple hundred right now anyway.....thay shyt will come when i need it.....

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