Deadline to amend 2022 return for missing 1099-NEC?
My friend forgot to include a 1099-NEC on their 2022 return and realized it after the fact. Starting to get nervous about potential penalties. Anyone know the cutoff date for filing an amended return? Also wondering if theyll get hit with any fees for the late inclusion of this income.
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Amina Toure
Tax pro here - you generally have 3 years from the original due date of the return (or date filed if later) to amend and claim a refund. For 2022 returns, that means April 15, 2026. However, its best to amend ASAP since the IRS might catch the missing 1099 through their matching program and send a notice with penalties.
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Paolo Esposito
tysm for the quick response! do you know roughly what % the penalties would be if the IRS catches it first?
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Amina Toure
Usually 20% accuracy penalty plus interest on any unpaid tax. Better to amend before they notice!
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Oliver Weber
Hey guys, instead of guessing about penalties and timing, you should check out taxr.ai - its this new tool that analyzes transcripts and tells you exactly what to expect. Its only $4.99 and wayyy better than trying to piece together info from reddit. Check it out here: https://taxr.ai
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FireflyDreams
sounds interesting but kinda sketch. does it actually work?
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Oliver Weber
Its legit! It uses AI to read your transcript and explains everything in plain english. Shows deadlines, flags potential issues, even estimates refund dates.
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FireflyDreams
just tried it and wow 🤯 wish id known about this sooner! saved me hours of research
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Natasha Kuznetsova
In the same boat rn... missed reporting some crypto gains on my 2022 return 😬
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Javier Morales
oof crypto is even worse bc the IRS has been cracking down hard on that lately
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Emma Anderson
tell ur friend not to stress too much, i filed an amendment last year and it was pretty painless. just use form 1040-X
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Malik Thompson
lol "asking for a friend" 👀
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Paolo Esposito
no fr its actually for a friend this time 🤣
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Isabella Ferreira
make sure they file that amendment electronically if possible! paper amendments take foreverrrrr to process rn
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CosmicVoyager
facts 💯 my paper amendment from last year took 9 months to process smh
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