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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 12481
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I applied for taxes for 2012 (federal) and got back a couple

Customer Question

I applied for taxes for 2012 (federal) and got back a couple of hundred. I discovered though that I used accidentally the 2011 W2 form. I want to amend but it is a headache. It seems they have already deposited the amount, and since the difference is but small (same job situation for the two years, same workplace), I was wondering if it is reasonable to just ignore unless the IRS contacts me. Any advice?
Submitted: 4 years ago.
Category: Tax
Expert:  Megan C replied 4 years ago.

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

I hate to tell you what you probably don't want to hear, but you need to amend your tax return before the IRS contacts you. It will go much smoother for you than dealing with IRS correspondence later on.

MyVirtualCPA :

So, all you need to do is file the amended return, and pay any difference. It's not a big deal. It will take the IRS 6-12 weeks to process the amended return.

JACUSTOMER-55k7x4t3- :

I would like the opinion of another expert. I believe we talked before.

MyVirtualCPA :

No problem. I'll opt out. Someone else will assist shortly

JACUSTOMER-55k7x4t3- :

I see you have entered again?

Expert:  Lane replied 4 years ago.


Hi, Everything the expert above said is true.



Getting to them, before they get to you, is ALWAYS more efficient.



Further, because you have not provided numbers, it's hard to say, but you do have one hope of not being contacted ...



and that is whether the IRS judges this to be what's called a a De minimis transaction, or amount. ...meaning, in THIS situation, that it would be more costly for them to pursue, than the revenue it would generate for them.



It will turn on that.