Think of this like finding out you left the stove on after leaving for vacation. You can hope nothing catches fire, or you can ask a neighbor to go turn it off. I was in your exact shoes in 2022 - got a 1099-K from Etsy after filing. I decided to roll the dice and not amend since it was only about $800. Like clockwork, I got a love letter from the IRS 8 months later with a bill for the tax plus a 20% accuracy penalty and interest. The amendment would have been so much easier than dealing with the notice and having to call them repeatedly to explain my situation.

I'm dealing with something similar right now! Got a 1099-K from Venmo for some tutoring payments that came in late February, well after I'd already filed and received my refund. From what I've researched, the IRS matching system is pretty much automated these days, so they'll eventually catch the discrepancy even if it takes several months. My accountant told me to consider a few things: 1) Was this income you already tracked and reported even without the form? 2) Do you have business expenses that could offset this income? 3) What's your current tax bracket - because that determines how much additional tax you'd actually owe. For me, the 1099-K was about $1,200, but I had legitimate expenses (materials, mileage, etc.) that brought the taxable amount down to around $400. In the 22% bracket, that's less than $100 in additional tax. Still planning to amend though - the peace of mind is worth the paperwork hassle, and from what others are saying here, it's better to be proactive than deal with penalties later. One tip: if you do amend, make sure to include a detailed explanation with your 1040-X about why you're amending and attach a copy of the 1099-K. It can help speed up processing.

Have you taken these steps to verify everything is in order? 1. Check your tax transcript on IRS.gov to confirm the refund amount 2. Verify your bank account details are correct in your tax return 3. Look for code 846 on your transcript which confirms the refund has been scheduled Did you receive any letters from the IRS after you filed? I'm trying to determine if your amendment was processed as part of your original return or as a separate transaction.

Congratulations on getting your DD date! 🎉 Based on what you're describing, it sounds like you made your amendments before final submission rather than filing a separate 1040X form afterward. That's why you're seeing such a quick turnaround - the IRS processed everything together as one complete return. A few things to keep in mind for March 13th: - Your bank might post the deposit anywhere from midnight on the 12th to end of business on the 13th - Some banks even release federal tax refunds a day early - If you don't see it by March 14th, that's when you'd want to contact the IRS The fact that WMR gave you a specific DD date is really encouraging - they typically don't do that unless your return has cleared all the major processing hurdles. Your amendments were likely minor enough that they didn't trigger any additional review processes. You should be all set! 💰

My dates were off by a whole week but the money showed up randomly at 2am on neither date 💀 irs do be keeping us on our toes

Ugh this is so frustrating! Same thing happening to me - transcript shows 01-27 but WMR says 02-05. Been checking my bank account like 10 times a day 😩 The IRS really needs to get their act together with these conflicting dates. At this point I don't even know which one to trust!

The whole system is broken fr fr. Been waiting 3 weeks just to get approved 🤡

Just went through this same situation last month! The adjustment was minor in my case - they corrected a deduction I claimed that didn't match their records. The 48-hour timeline was spot on for me with Chase bank. To ease your anxiety, you can also check if Maryland sent you any correspondence through your OneStop portal explaining the adjustment details. Usually it's nothing major!

Anyone else notice that property tax assessments after inheritance can get really messed up? After inheriting my grandmother's house, the county somehow flagged it and reassessed the value WAY higher than even the market value. Had to file an appeal with the county assessor's office and provide the professional appraisal from when she died. Just a heads up to check your property tax statements carefully after inheriting - could save you thousands!

This is such a complex situation! I went through something similar with my aunt's property last year. One thing I learned the hard way is that you'll also want to consider the timing of your sale carefully. If you're planning to sell within the next few months, make sure you have all your documentation ready - the estate appraisal, any rental income records, receipts for improvements or repairs, and depreciation calculations. Also, don't forget about state taxes! Oregon doesn't have a capital gains exclusion like some states do, so you'll owe Oregon state tax on any gains in addition to federal. The good news is that Oregon generally follows federal rules for the stepped-up basis. One more tip - if you haven't already, consider getting a current appraisal before listing. Sometimes the estate appraisal from a year ago might not reflect current market conditions accurately, and you want to make sure you're pricing it right. Plus, if property values have actually decreased in your area since the inheritance, that could affect your tax calculation too. Managing out-of-state rental property is definitely a hassle - I totally get wanting to sell and simplify things!