I filed my return without reporting all of my income. What should I do?

February, 11 2015 by Dave Du Val, EA

Hey Dave,

I filed my tax return, and then a W-2 came in the mail for a job I worked earlier this year that I had forgotten about. How do I file this?

Harold

 

Harold

If you’ve already filed your return and did not include some of your W-2 income, you should file an amended tax return to report the missing income. That said, you should only amend your return after it has been filed, accepted by the IRS, and the check (to you or to IRS) has been cashed. In general, you have up to three years to amend your return.  But this is a case where sooner-is-better-than-later, as there is interest running on any amount owed.

There are very specific instructions that TurboTax provides for amending your tax return, depending on which year and which version of TurboTax you are using. We also would like to commend you on your honesty and your desire to do the right thing!

Deductibly Yours,

Dave