I accidentally sent in two payments last year for $4,200 each (was trying different payment methods and messed up). The IRS actually applied the second payment to the next tax year automatically. So you might want to check if that's what you'd prefer rather than waiting for a refund. You can use it as an estimated tax payment for next year and potentially avoid having to make a quarterly payment.

I work as a tax preparer and see this situation fairly often during tax season. The good news is that duplicate payments are usually resolved automatically by the IRS within 6-8 weeks after both checks clear. Their systems are pretty good at catching identical payments with matching SSNs and tax years. Here's what I recommend: First, monitor your bank account to confirm when both checks are cashed. Then give it about 2 months before following up. If you don't receive an automatic refund by then, call the IRS using the number Isabella mentioned (800-829-1040) or consider using one of those callback services others have mentioned to avoid the long hold times. One thing to keep in mind - if you owe taxes for next year, you can also request that the overpayment be applied as an estimated tax payment for 2025 instead of getting a refund. This might actually work out better from a cash flow perspective and saves you from having to make quarterly payments later. Don't stress too much about this - it's an honest mistake that happens more than you'd think, especially during the hectic tax deadline period!

Just wanted to mention that you can actually e-file past year returns using some tax software, which is WAY easier than paper filing. I used FreeTaxUSA for my 2020 return when I filed in late 2023. They charge like $20 for past year returns but it was totally worth it to avoid the paper forms nightmare.

I'm going through a very similar situation right now with my 2020 taxes! Lost my job in March 2020 and honestly just couldn't deal with paperwork for the longest time. I finally gathered all my documents last month and realized I might actually owe money despite having taxes withheld from my W-2. One thing that really helped me was calling the IRS Taxpayer Advocate Service (TAS) - they're a separate division that helps people with complex tax problems for free. They don't file your return for you, but they can explain your options and help you understand what penalties you might face. The number is 1-877-777-4778. They were way more patient and helpful than trying to navigate the regular IRS phone system. Also, don't panic about the penalties if you do owe. The failure-to-file penalty stops accruing after 5 months, so it maxes out at 25% of what you owe. The failure-to-pay penalty continues but it's only 0.5% per month. Still not great, but not as scary as it sounds when people say "penalties keep growing forever.

One thing nobody has mentioned - have you tried just talking to a human at your old bank? When I had a similar issue, I called and asked to speak with someone in their tax department directly. Explained that the code on my 1099-R was incorrect and potentially subjected me to taxes I didn't owe. Once I got to someone who actually understood tax forms (had to escalate twice), they immediately recognized the error and issued a corrected 1099-R within a week. Sometimes just finding the right person makes all the difference.

I went through almost the exact same situation with my Roth rollover from TD Ameritrade to Schwab in 2022. Got a 1099-R with code 1 instead of code J, and it was a real headache. Here's what I learned: Don't wait around for the bank to fix it if you need to file soon. You can absolutely file your return correctly showing it as a non-taxable Roth rollover on Form 8606, even with the wrong code on the 1099-R. The key is documenting everything properly. I included a statement with my return explaining that the 1099-R contained an incorrect distribution code and that the transaction was actually a qualifying Roth-to-Roth rollover completed within 60 days. Make sure you have your bank statements showing the withdrawal date and the deposit date at the new institution. It took TD Ameritrade about 3 weeks to issue a corrected form after I escalated to their retirement services department, but I had already filed by then. Never heard anything from the IRS about it, so the proper documentation on Form 8606 did its job. The most important thing is not to let the incorrect code scare you into paying taxes you don't owe. A Roth-to-Roth rollover within 60 days is not a taxable event, regardless of what code is on the form.

Has anyone else noticed how poorly written the IRS instructions are for these partnership audit forms? I read the same section of the website 5 times and still couldn't figure out what they were trying to say. It's like they deliberately make things confusing.

I completely agree with everyone saying the non-BBA partnership doesn't need to issue 8985/8986 forms in this situation. I dealt with this exact scenario last year and spent way too much time second-guessing myself because the IRS guidance is so confusing. What helped me was breaking it down step by step: 1) Your client is non-BBA, 2) They received favorable adjustments with no imputed underpayment, 3) Non-BBA partnerships generally don't have push-out obligations like BBA partnerships do. They just need to account for the adjustments on their own return and flow through any partner-level changes via amended K-1s if necessary. The key thing to remember is that the 8985/8986 reporting requirements were primarily designed for the BBA partnership audit regime. Since your client is outside that regime, they're not subject to those specific reporting obligations. Save yourself the stress - document your reasoning like Ryan suggested and move on!

One strategy I don't see mentioned yet - consider using a Qualified Charitable Distribution (QCD) if you have any charitable intentions. Once you're 70.5, you can donate up to $105,000 directly from your IRA to charity without counting it as taxable income. This can be especially powerful for reducing your AGI which affects everything from Medicare premiums to how much of your Social Security gets taxed.

This is such a comprehensive discussion! As someone who went through this exact scenario two years ago, I'd add one more consideration: timing your withdrawals around your state tax situation. If you're in a high-tax state now but planning to move to a no-tax or low-tax state in retirement, it might be worth accelerating some withdrawals after you move. Also, don't overlook the Net Investment Income Tax (NIIT) - that additional 3.8% tax on investment income kicks in at $200k MAGI for single filers. Large brokerage withdrawals with significant gains could push you into this territory. One last tip: if you have a Health Savings Account, maximize those contributions now while you're still working. HSA money can be withdrawn penalty-free for medical expenses at any age, and after 65 it can be withdrawn for any purpose (taxed as ordinary income, like an IRA). Given healthcare costs in retirement, having that tax-free bucket for medical expenses can be incredibly valuable.