Mistake on 2021 return electronically filed
I helped prepared my son’s 2021 1040 with Turbo Tax electronically. It has been accepted and as soon as it was sent I realized there was an error when reporting his total 2021 Economic Impact Payments. Only one filer’s amount was reported and both he and his spouse both received Letter 6475. Both letter amounts should have been added together and because they were not it generated a refund. Should he file an amended return or wait for the IRS to catch the mistake? Thank you in advance for your advise.
Terry Says
Well, this is just opinion, but I would wait until they catch it. The stimulus payments were not taxable, so I don’t see how this impacted money they owed — OR generated a refund. They will contact you if there is some other discrepancy. Don’t screw things up by trying to file an amended return.
