Forgot to include W-2 from UI

[uRabbit]

I receive $481 in Unemployment Insurance this last year, and the Dept. of Labor is expecting me to pay it back. I have intended to have it taken out of my returns all along, but somehow totally forgot about it. The return is already sent in and has already been approved by the IRS.

I am currently filing an amended return with TurboTax.

It shows:
Federal: $47
State: $-278

The Federal return that was submitted and accepted was $4,237 (thereabouts). Does this mean I will get an ADDITIONAL $47 from Feds, or that my TOTAL return is $47? (BTW, $47 was all the taxes paid on the UI.)

[Petunia 100]

Originally Posted by uRabbit

I receive $481 in Unemployment Insurance this last year, and the Dept. of Labor is expecting me to pay it back. I have intended to have it taken out of my returns all along, but somehow totally forgot about it. The return is already sent in and has already been approved by the IRS.

I am currently filing an amended return with TurboTax.

It shows:
Federal: $47
State: $-278

The Federal return that was submitted and accepted was $4,237 (thereabouts). Does this mean I will get an ADDITIONAL $47 from Feds, or that my TOTAL return is $47? (BTW, $47 was all the taxes paid on the UI.)

Are you saying you did receive UI in 2011, need to pay it back, but as of 12/31/11 had not done so? If so, there is nothing to amend.

In general, yes, the 1040x shows additional refund or tax due, not total refund or tax due.

[Frügal]

Originally Posted by Petunia 100

Are you saying you did receive UI in 2011, need to pay it back, but as of 12/31/11 had not done so? If so, there is nothing to amend.

In general, yes, the 1040x shows additional refund or tax due, not total refund or tax due.

That is what I am saying, yes. However, I have already filed, and forgot to include the W2 received from the Dept. of Labor.

[Petunia 100]

Originally Posted by Frügal

That is what I am saying, yes. However, I have already filed, and forgot to include the W2 received from the Dept. of Labor.

Oh, so you did not report the income? Then yes, you should amend.

[Money Gal]

If you received the UEI $s in error, why haven't you written them a check to pay it back? Are you waiting for tax refund to do that?

1] Yes, amend your tax submission, but if your original has already started in their processing the original refund will already be on its way to you.

2] The X form should show what you have to pay with the amended tax forms you mail in. It is not clear to me why the UI adjustment would make such a high additional payment to state tax required - are you sure this is correct?

3] If you are getting a large refund, make sure you adjust your payroll withholdings so they are lower during this year (if you expect same sort of refund this year).