IRS is only concerned with underpayments. If you want your money back you have to file an amended return. Since it should result in a refund you have lots of time. If it would result with you having to pay you should file the amended return before this years deadline.

If the difference between the 1099's is $1,000 it may not be worth it in time and effort to file an amended form. If you owed that would be different.

I read it that the $1000 is a difference in TAX. I'd file to get $1000 back, wouldn't you?

It's a difference in tax. In the past I've let small mistakes go as not worth it. Edit; actually it amounts to $2000 because the estimated tax would be reduced the same amount when using safe haven estimated tax.

sushi I also read it as $1,000 but have also known the opposite which is why I posted as I did.

"IRS is only concerned with underpayments."

Said with such certainty, what is this comment based on?

Elmer have you ever known of IRS contacting anyone for paying more than they should if they did not ask for a refund????? Even the instructions state that people only need to file if they owe or want a refund.

Malfour, I call BS! Elmer (as much as I hate to admit) is right! From personal experience, who has received notices of overpayment more than once (and usually wrong) and from someone who pays more than six figures (before the decimal point) and with post- doctorial university training in tax law (although not a tax professional, like Elmer). The IRS does indeed send notices of overpayment, (sometimes with automatically issued checks). In a word, yes, we have received notices of overpayment and my Mom has as well.

gotta ask, Malfleur, what is your personal. experience? Complex returns? And possibly education?

"Elmer have you ever known of IRS contacting anyone for paying more than they should if they did not ask for a refund?"

Yes. That's very normal if the information they have shows too much in a taxpayer's account for the tax liability reported or calculated vs the refund or credit requested.

mojo both.

No matter from where, maifleur, your source didn't give you the right information on this subject.

Well then, should I file an amended return or sit on it?

Thanx. I figured it would probably be best to file. My software is programmed for that and states the amended return cannot be e-filed. Print out and mail. I sure will not make a move till after the deadline though in case they slip me another (3rd) corrected 1099.

Hadn’t thought about 2018 changes affecting 2018 estimated tax based on the safe haven approach. I tried to google that but wound up with my eyeballs contra rotating. Looks like you can change the est qly payments but it gets complicated.

Don't be concerned with what the 1099s say or how inept the payor is in doing them correctly.

If you know what the right number is, report that (even if different from the 1099), explain why, and file. It's your obligation to file with the right number, not with a number that conforms with a 1099 (that you know to be wrong).

Ok. Will do.

I once made an addition error and overpaid my taxes by several hundred dollars. I was unaware of it until later that year when I got a refund of the overpayment that got caught by the IRS. However, Congress has repeatedly cut staffing at IRS over the last several years and how good they (or their computers) are at catching mistakes at this time I don't know. What I do know is that if I was aware of an error: 1) I would not presume there was a 100% chance of it being caught by the IRS, and 2) I would want the money back in my possession ASAP, not months or years hence. That's why you file an amended return now.

you should file an amended return. you have 3 years from the due date of the return subject to amendment to do so. if your 1099 is incorrect and you know this before you file the original return you should request a corrected one from the issuer and extend your return until it is issued. as far as estimates for '18 you should pay based on safe harbor rules not estimated '18 taxable income unless your '18 taxable income is going to be significantly less then '17 taxable income.

The correct income amount should be reported on the tax return. Whether the 1099 for this income is right or wrong, or even whether there is one at all (and sometimes there's not), doesn't matter. Unless there are other reasons to extend a return, waiting for 1099 is unnecessary.

kudzu, math accuracy checking is done by computer. It's a step for incoming returns. If there are addition or subtraction errors for a manually prepared return, if the tax on the return is wrong for the taxable income reported, if the tax payments (estimates or withholding) are different from what your "tax account" shows, it'll get found and you'll be notified. As I said before, when an error is known, filing an amended return is fine because it affirmatively starts the adjustment process.

Yes, IRS funding has never been adequate and I think it's another idiotic practice of Congress (politicians of both parties). Who suffers are us, the compliant taxpayers, because their enforcement efforts are hindered by lack of money. Too many knee-jerk fools in our society who like to talk and think about the IRS as if they were a scourge on our society. Most IRS people are everyday citizens like you and me, federal workers at that agency not unlike others, trying to do their jobs. Some have bad attitudes, yes - you can thank your fellow citizens for that, too many people treat them disrespectfully and make their jobs harder than they need to be.

We want government services, we want to pay fairly for them, and it's the job of the IRS to enforce (and not make) the laws that account for much of the federal government's receipts. More funding results in a multiplier benefit of more collections and the converse is true too. Saving money costs more money. How we go about it couldn't be more stupid.

Got a 3rd Amended 1099 dtd 4-14. 2 more days to go. Like, I mean, the suspense?

IRS employee here. Elmer is right on the money. However, do you know the number one reason 1040X is rejected? No signature. IF the TP sends in a 1040 original signature the IRS will take it to include the 1040X. You wouldn't believe TP's sending in the kitchen sink, but forget to sign.

1. They usually notify people about the payment balance in 2-3 weeks since your docs are approved.

2. To reduce the timing of their action it's necessary to file it. Of course, you have a right not to do so, but the time of waiting for their response will increase for 2 additional weeks. So, that's why it's better to fill in everything. If you don't know how to fill this form you can visit https://pdf-to-dxf.com/blog/how-to-fill-w-2-form-guide/ and read their guide, which includes all the info and examples. I hope you'll clarify everything ASAP because messing up with these bills can be really exhausting.