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Thread: Revised W-2

  1. #1
    ID10T is offline Junior Member
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    Revised W-2

    What is the name of your state? TEXAS

    I received a W-2 from the company I worked for just like I do every year. I filed my return and am due to get a refund. Today I received a revised W-2 from this employer. Apparently the first W-2 they sent me included insurance payments as part of my total wages. The revised one subtracts that from my total wages. When I rework my taxes based on the new number I show an additional refund of $1,700 dollars. Can I just amend my return and refile or what? I want that extra refund money.
  2. #2
    JETX is offline Senior Member
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    Quote Originally Posted by ID10T View Post
    Can I just amend my return and refile or what?
    Yep. Just file an amended form 1040-X.
  3. #3
    LdiJ is offline Senior Member
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    Quote Originally Posted by ID10T View Post
    What is the name of your state? TEXAS

    I received a W-2 from the company I worked for just like I do every year. I filed my return and am due to get a refund. Today I received a revised W-2 from this employer. Apparently the first W-2 they sent me included insurance payments as part of my total wages. The revised one subtracts that from my total wages. When I rework my taxes based on the new number I show an additional refund of $1,700 dollars. Can I just amend my return and refile or what? I want that extra refund money.
    You need to file an amended return. It cannot be done electronically it has to be done by paper. It takes the IRS between 60-90 days to process an amended return and get the additional refund to you. Amended returns are also quite complicated to do and they are not something that I recommend that a layperson attempt on their own. I would recommend using a tax professional.

    I have said this before on this site, and I will say it again. As a tax professional someone would almost have to hold a gun to my head to get me to do an amended return by hand anymore...they are that complicated. If you have 1700 coming back its worth it to pay a tax professional to handle it for you.

    However, find someone local to do it...don't pay the rates that one of the national firms charge.
  4. #4
    ID10T is offline Junior Member
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    Thanks for the replies. I have another question. I used TurboTax online and have completed my 1040X. What all do I need to send with that to the IRS? I know I need to send the new W-2. Do I attach the new W-2 to the 1040X or the amended 1040? Also, since I am now mailing the return, do I need to attach any 1099 forms? The changes reduced my tax liability and increased my EIC and additional child tax credit. Also, do I need to include a copy of the original 1040? Thanks for your help.
    Last edited by ID10T; 02-01-2008 at 10:16 PM.
  5. #5
    LdiJ is offline Senior Member
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    Quote Originally Posted by ID10T View Post
    Thanks for the replies. I have another question. I used TurboTax online and have completed my 1040X. What all do I need to send with that to the IRS? I know I need to send the new W-2. Do I attach the new W-2 to the 1040X or the amended 1040? Also, since I am now mailing the return, do I need to attach any 1099 forms? The changes reduced my tax liability and increased my EIC and additional child tax credit. Also, do I need to include a copy of the original 1040? Thanks for your help.
    The only things that you attach are things related to the specific change. You attach the W2 to the amended 1040, and you attach the 1040X on top of that. I was not aware that you could do amended returns on TurboTax Online now. Please carefully review the items on the 1040X for reasonableness.
  6. #6
    JETX is offline Senior Member
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    You might also include a short note explaining why you are filing the amended return. Not needed, but it could help them in processing the filing.
  7. #7
    LdiJ is offline Senior Member
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    Quote Originally Posted by JETX View Post
    You might also include a short note explaining why you are filing the amended return. Not needed, but it could help them in processing the filing.
    The 1040X form itself has a place for a REQUIRED explanation of why you are amending the return.

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