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JKCPA
JKCPA, CPA
Category: Tax
Satisfied Customers: 5777
Experience:  CPA with tax experience.
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I efile my taxes online and it was a very large refund amount,

Customer Question

I efile my taxes online and it was a very large refund amount, 11,515 I heard the irs was giving lots of additional money this year so I didnt think much of it. I spoke with my friend who pretty much had the same income and 2 children like me who was not getting nearly as much as me. I went back to check my info and noticed that I made a HUGE mistake.
I only made a little over $19,000 this year and my federal tax withholding was a little over $400, instead I accidentally typed in over $4000! I called the irs and told them what happened and they said it is still processing. They said there is a processing delay for some reason but it can take upto 3 weeks instead of the date I was told which was about 2 weeks. I was told to just send back the check if it gets processed successfully and ammend it.

My question is, will the people in the processing dept. catch the error for me and if they do, will I be in trouble with the irs for that huge mistake?
Submitted: 4 years ago.
Category: Tax
Expert:  JKCPA replied 4 years ago.

Hello,

 

Thanks for your question.

 

Sometimes the IRS will catch an error such as that in processing and will automatically correct it for you, send you a notice and send you the correct amount for the refund. You will have to watch your mail and/or your bank account if you elected direct deposit to verify the amount of your refund.

 

If they do not catch the error, you will need to file an amended return on Form 1040X to correct the amount of your withholding. If you are sent a paper check for the original amount of the refund, if you can send the check back to the IRS, write "Void" on the back of the check with a note that you are amending your return so the IRS can correct the amount of the refund or you can just pay the $3600 withholding correction with your Form 1040X. If you are sent a direct deposit, you can call your bank and ask that it be returned to IRS to be corrected or you can pay the extra $3600 with your Form 1040X. Then you will need to file the Form 1040X.

 

No, you will not get in trouble with the IRS if they or you correct the error timely. These typos happen all the time and they understand it. If you have to pay the $3600 and pay it by 04/15/2010, there will be no penalty and interest.

 

Hope this helps,

Best regards,

 



Edited by JK_CPA on 2/1/2010 at 7:40 PM EST
Customer: replied 4 years ago.

So it is possible for them not to even notice such a large error and actually send me that money? I mean, if they dont catch and correct it, is it even possible to have $4000 fed taxes taken out of only $19,000?

 

Lastly, is it possible for them to not send my refund at all and just send a letter for me to amend it or will they most likely either fix it, or send my refund and I send the irs the difference. I really need my refund (minus the 3,6000) to catch up on some bills asap and I heard ammended refunds takes months to get processed.

 

Thanks

 

 

Customer: replied 4 years ago.

So it is possible for them not to even notice such a large error and actually send me that money? I mean, if they dont catch and correct it, is it even possible to have $4000 fed taxes taken out of only $19,000?

 

Lastly, is it possible for them to not send my refund at all and just send a letter for me to amend it or will they most likely either fix it, or send my refund and I send the irs the difference. I really need my refund (minus the 3,6000) to catch up on some bills asap and I heard ammended refunds takes months to get processed.

 

Thanks

Customer: replied 4 years ago.
I guess the follow up question is, how will the irs now how much my actual federal withholding tax should be if they find the error and correct it without me sending in a copy of my W2? I filed my taxes online and it accepted what ever info I put in from my W2.

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