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

February 11, 2015 by Dave Du Val, EA
W-2 Wage Statement

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

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David E. Du Val, EA
Chief Compliance Officer for TRI Holdco

 

Dave Du Val, EA, is Chief Compliance Officer for TRI Holdco. Inc., the parent company of TaxAudit, and Centenal Tax Group. A nationally recognized speaker and educator, Dave is well known for his high energy and dynamic presentation style. He is a frequent and popular guest speaker for the California Society of Tax Consultants, the California Society of Enrolled Agents and the National Association of Tax Professionals. Dave frequently contributes tax tips and information to news publications, including US News and World Report, USA Today, and CPA Practice Advisor. Dave is an Enrolled Agent who has prepared thousands of returns during his career and has trained and mentored hundreds of tax professionals. He is a member of the National Association of Tax Professionals, the National Association of Enrolled Agents and the California Society of Enrolled Agents. Dave also holds a Master of Arts in Education and has been educating people since 1972. 


 

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