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#2
06-27-2004, 09:05 PM
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 Re: Mistake in 2003 1040 <VSLARRY[at]weizmann.weizmann.ac.il> wrote: - quote - > In 2003, for my 2002 return, I made an error. As a
IRS will catch the mistake and send you a "Math Error"> result I got a check instead of leaving the amount for > estimated taxes. I forgot about it, and when doing my > 2003 return, I included that "overpayment" as taxes paid. > Should I now send in a 1040X, or just assume that the > IRS would catch such an obvious error and make the > appropriate correction? correction notice when they are done processing your 2003 return. If you filed the return on or about April 15 and enclosed payment for a balance due, your return gets the lowest data entry priority. IRS processes the refund returns first to minimize the amount of interest the government must pay on refunds gotten out after June 1. Your 2003 return probably is being processed at this time. In the next 3 - 4 weeeks you should receive the math error correction notice. I recommend you wait until you receive the notice then send in your payment for the overstated estimated tax payment plus any interest due since April 15. You do not need to file a Form 1040X. The only action necessary on your part is as I described above. Barney Byrd << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
06-27-2004, 08:46 PM
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| Re: Mistake in 2003 1040 <VSLARRY[at]weizmann.weizmann.ac.il> wrote: - quote - > In 2003, for my 2002 return, I made an error. As a result I
I'd let the IRS find this. If you get a refund check, then> got a check instead of leaving the amount for estimated > taxes. I forgot about it, and when doing my 2003 return, I > included that "overpayment" as taxes paid. > Should I now send in a 1040X, or just assume that the IRS > would catch such an obvious error and make the appropriate > correction? write a letter explaining what happened and return the check which you should mark VOID. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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06-27-2004, 08:08 PM
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| Re: Mistake in 2003 1040 VSLARRY[at]weizmann.weizmann.ac.il wrote: - quote - > In 2003, for my 2002 return, I made an error. As a result I
The IRS computer will catch it and send you a letter> got a check instead of leaving the amount for estimated > taxes. I forgot about it, and when doing my 2003 return, I > included that "overpayment" as taxes paid. > Should I now send in a 1040X, or just assume that the IRS > would catch such an obvious error and make the appropriate > correction? (CP2000, probably). You should not have to do anything. Missy Doyle << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
06-25-2004, 07:41 PM
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| Mistake in 2003 1040 In 2003, for my 2002 return, I made an error. As a result I got a check instead of leaving the amount for estimated taxes. I forgot about it, and when doing my 2003 return, I included that "overpayment" as taxes paid. Should I now send in a 1040X, or just assume that the IRS would catch such an obvious error and make the appropriate correction? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1040, 2003, mistake |
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