Income tax wrong amount for the stimulus payment

kbook3 · #1 (**permalink**) 02-05-2009, 03:03 PM

I recently did my taxes online and put the wrong amount for the stimulus payment i recvd in may how do i correct this problem? what forms do i use?

TaxGuru · #2 (**permalink**) 02-12-2009, 02:17 AM

You should not worry about this particular error as the IRS will automatically correct this error for and adjust your tax refund or liability! Just be patient and the IRS will send you a letter shortly.

Don't Worry!

kbook3 · #3 (**permalink**) 02-12-2009, 06:07 AM

Quote:

Originally Posted by TaxGuru

You should not worry about this particular error as the IRS will automatically correct this error for and adjust your tax refund or liability! Just be patient and the IRS will send you a letter shortly.

Don't Worry!

Thats not true I found out I had to do an amendment to my taxes 1040x which I have done now have to wait 8 to 10 weeks. Thanks for you help

TaxGuru · #4 (**permalink**) 02-12-2009, 12:27 PM

Actually, one of my new clients gave me the wrong amount of the tax rebate received in the prior years tax return for which I filed his taxes, the IRS corrected his tax return without penalizing him!

But, of course you could have amended the tax return as well. You are right in the sense the amended tax return may very well be the best approach in this case.

But, truly speaking, a lot of taxpayers will be incorrectly entering the amount received on the stimulus payments, so the IRS will be automatically adjusting the tax returns without penalizing the taxpayers assuming it was an inadvertent error!