Question

After IRS amends my 2020 how will I be informed of my new tax liability amount?

Forum|Forum|5 years ago
May 6, 2021
1 reply
0 views

I submitted my 2020 return prior to the $10, 200 allowance being approved. I think I may still owe after IRS amends my 2020 return. How will I be informed, or should I make a partial pmt by the 17th? I don't want to do the wrong thing but also don't want a tax penalty or interest. Any help would be huge as I am definitely on uncharted waters.

fanfare

Employee

If you don't send in payment for amount you owe, after adjusting for the new tax law, by May 17th, you will be late.

IRS has already said Joint Returns will be adjusted after Tax Day.

C

cjbeard365Author

Is there a way to determine the next tax liability amount w/o having to amend my current return? Turbo still shows the full amount on my profile screen so not sure how to determine on my own. Advice?