Experience with filing 1040X Amended Return - Impact on refunds and next year's taxes?

I went through this exact situation in 2021. I amended my 2020 return after finding out I forgot to include some 1099 income from freelance work. Yes, I ended up owing about $1,200 after the amendment, whereas I had initially received a $800 refund. Regarding your concern about next year's refund - it shouldn't affect your 2023 refund UNLESS the IRS hasn't finished processing your amendment when they process your new return. In my case, my amendment took about 6 months to fully process, but my next year's refund came without any issues. If you're worried, you can check the status of your amended return using the "Where's My Amended Return" tool on the IRS website. Make sure you've paid what you owe to avoid any penalties accumulating. The fact that you've already sent the payment is good - it shows good faith compliance.

I was exactly where you are about 8 months ago. I was struggling to understand all this amendment stuff, but I found this tool called taxr.ai that helped me visualize exactly what was happening with my transcript. It showed me all the dates, codes, and explained what each meant. Totally took the guesswork out of it. It even predicted when my amendment would likely be processed based on current IRS timelines. Honestly way better than trying to decode everything myself or scrolling through endless forum posts. Check it out if you're confused about your situation: https://taxr.ai

After waiting on hold with the IRS for literally 3+ hours trying to get answers about my amended return (and then getting disconnected 💀), I found this app called Claimyr that got me a callback from an IRS agent in just 45 minutes. I used it when I filed my amendment last year and needed to know if it would affect my current year refund. The agent was able to confirm everything was fine and I could expect my refund without delays. Best $$ I've spent dealing with tax issues - saved me a day of being on hold. Their site is claimyr.com if you're interested.

Amended my 2021 taxes last year and ended up owing about $750. It didn't affect my 2022 refund at all, came right on schedule. But my situation might be different sinse I filed the amendment early in the year (March) and my 2022 return wasn't until the following February. From what I understand, it really depends on TIMING. If your amendment is still processing when you file your next return, there could be delays. IRS is usually pretty slow with amendments - mine took about 4 months.

Just went thru this nightmare last year. Amended my 2021 return in July 2022, ended up owing $1,500 😭 Then filed my 2022 taxes in February 2023 and my refund got COMPLETELY DELAYED because the amendment was still processing! Didn't get my refund until June instead of February. The IRS is so behind on these things, just be prepared to wait. My advice - file your current year taxes ASAP if you're expecting a refund, don't wait till last minute.

I had to amend my 2020 taxes after realizing I messed up some deductions. Ended up owing about $600 after originally getting a refund. The amendment took forever (like 8 months) to process but it didn't impact my 2021 refund at all. Just make sure you pay what you owe promptly to avoid penalties and interest. The actual payment and the processing of the paperwork are separate things in the IRS world.

Listen, the IRS is basically running on 1980s technology and severe understaffing. I've amended returns 3 different times over the years. Here's what I've learned: - Amendments take 6-12 months to process (despite them saying 16 weeks 😂) - Paying what you owe immediately is key to avoiding compounding penalties - Next year's refund MAY get delayed if your amendment isn't finished processing - The "Where's My Amended Return" tool is often not updated for months - Calling rarely helps unless you get a particularly helpful agent Just buckle up for a wait. And try that Taxr.ai tool someone mentioned above - I used it for my last amendment and it actually helped me understand what all the codes meant on my transcript.

i had 2 amended returns (2020 and 2021) that i filed in 2022. both took about 9 months to process fully. i owed like $3k total after them (painful). my 2022 refund was held up for a while but eventually came through. one thing that helped me was using Claimyr (claimyr.com) to actually get through to an IRS agent who was able to release my refund after verifying that my amendments were legitimate. saved me another 2 months of waiting probably.

THE IRS IS A JOKE. i amended my 2021 return in april 2022, and those clowns still havent fully processed it!!! going on 14 months now. and yes, it DID delay my 2022 refund by 3 months. the system is completely broken.

Tax preparer here. Amendments are notoriously slow, but owing after an amendment shouldn't cause issues with future refunds as long as you pay what you owe. The IRS processes each tax year separately. If you're concerned about the status, I recommend checking your tax transcript online rather than the "Where's My Amended Return" tool - the transcript is updated more frequently and will show if there's any hold or review on your account.

Had to amend my 2020 return because of a missed 1099. Owed about $1,200 after. Filed the amendment in June 2021. It COMPLETELY messed up my 2021 refund - got delayed by 5 months! The IRS is still working through a massive backlog of amendments. Your experience might be different now since they've had some time to catch up, but just be prepared for potential delays.

Just my 2 cents - I amended my 2021 return last April (2022) and it didn't affect my 2022 refund at all. Got my 2022 refund in Feb 2023 even though the amendment was still processing (finally finished in May 2023). I think it depends on which service center is handling your returns and if there are any flags on your account.

Pro tip from someone who's dealt with this multiple times: If your amendment is taking forever (like most do), use taxr.ai to help track exactly what's happening on your transcript. I used to spend hours trying to decode those stupid transcript codes but taxr breaks it all down in plain English. Helped me figure out that my amendment had actually been completed but the online status hadn't updated. Saved me months of stress wondering what was happening with my return!

I've had to amend twice, and both times my accountant warned me not to expect a quick resolution. Both amendments took about 8 months to fully process, but neither affected the following year's return. What did help though was using a service called Claimyr to actually reach an IRS agent to confirm everything was on track - their website is claimyr.com if you wanna check. Totally worth it rather than spending hours on hold.

I've had to amend my taxes twice due to crypto stuff I missed. Both times I ended up owing (about $2k the first time, $800 the second). My experience is that it doesn't affect your next year's refund EXCEPT if there's an outstanding balance from the amendment. As long as you've paid what you owe, you should be fine. Just be patient - my amendments took 7 and 9 months respectively to fully process.

I went through something similar last year when I had to amend my 2021 return after forgetting to report some freelance income. Ended up owing about $650 instead of getting the small refund I originally expected. The good news is that since you've already paid what you owe, you're in a much better position than people who let the balance sit. In my experience, the amendment itself didn't impact my 2022 refund timing - I got it right on schedule even though my amendment was still processing at the time. The key thing is that the IRS treats each tax year separately, so your 2022 amendment shouldn't hold up your 2023 refund as long as there's no outstanding balance. My amendment took about 7 months to fully complete, but like others have mentioned, the "Where's My Amended Return" tool barely updates so don't stress if it shows the same status for months. Just keep checking your account transcript occasionally - that's usually more accurate than their amendment tracking tool. You did the right thing by filing the amendment and paying immediately. That shows good faith compliance and should prevent any complications down the road.