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Another Amendment

Forum|Forum|4 years ago
May 24, 2022
1 reply
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Hello, everyone! I e-filed a 2021 amendment last week for gambling winnings/losses I didn’t know you had to report (I know, dumb). I just discovered $1,000 more (ugh). Is it ok to wait until this amendment has been processed to file another one? That appears to be the recommendation. It seems like it could take five-six months. I won’t be risking audit or any penalties by waiting, right? I just want to do the right thing.

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Best answer by bluedeb

You can wait to amend until the first amendment is processed. If you owe money with the second amended return, then you will incur a penalty and interest until the taxes owed are paid in full.

If you want to wait to amend your return for the second time, you can pay any amount you owe on the IRS website for payments.

https://www.irs.gov/payments

If your Federal amended returns affects your State return, you would need to also amend your State return. If you owe taxes on your State return, you can pay on your State's website.

bluedebAnswer

Employee

You can wait to amend until the first amendment is processed. If you owe money with the second amended return, then you will incur a penalty and interest until the taxes owed are paid in full.

If you want to wait to amend your return for the second time, you can pay any amount you owe on the IRS website for payments.

https://www.irs.gov/payments

If your Federal amended returns affects your State return, you would need to also amend your State return. If you owe taxes on your State return, you can pay on your State's website.

S

sedtaxAuthor

Hello @bluedeb ! Thank you. Do I have to wait until the amendment I filed last week is processed to file another one?

bluedeb

Employee

No, you can go ahead and do the second amendment. It would be worth it because if you owe on the second amendment, you would want to pay it as soon as possible.