Wooohooo! It's February 1 and your taxes are completed, efiled, and you're waiting for a refund.
But...
what's that in the mail? A W-2, oh gosh, you forgot you worked at Winchill's Donuts every morning for six weeks last January, to pay off those Christmas debts.
All is not lost, you can amend.
Just don't get in a hurry.
And don't spend that refund.
Until your return is processed and your income tax refund is in your hand, you can't file an amendment.
Now file your amended tax return.
Be sure to check all the little 'extras' on your return, like child tax credits, and earned income.
These items may change with your added income.
If you owe money, you need to send a check with your return.
If you'll receive money, don't expect it too soon.
While the first refund usually takes only two to four weeks, the second can take up to 8 weeks just to process and your refund will be sent some time after that.
So much for tax bloopers? Be sure to include ALL income in the first Tax Return filing, to avoid this issue in the future.
Remember that Amended Returns are not unusual, but IRS does scan them closer than the original return, and they actually do flip from page to page to review your numbers.
So, if you don't get it right the first time, be certain you get it all right the second time or you may be meeting with your friendly tax man for an interview and discussion over your tax issues.
Now, why was it you forgot that additional income again? The Tax Office shares your concern over Getting the Tax Return Right the first time around.
Amended Taxes are not a benefit filing on your behalf.
Don't make an error you'll regret repairing.