Amendment

[HOPE2]

Hi to all.

I filed the original return 3 days ago, and it was accepted. Today, the client gave me a new 1099-NEC. Can I file a 1040-X today?

Thanks for help!

[rcooley25]

If it were me I would not file an admended return untill I could see that the original had come full circle.

[Just-Lisa-Now-]

Did they have a  refund on the original?  If so, I wait for that to be received before EFiing an amendment.  If they owed money, its still better to give it some time to work through the system before amending.

[Camp1040]

Why does the nec matter, shouldn't the amount of the 1099- nec have been included in gross income? I'm assuming sch C.

[IRonMaN]

Exactly what I thought when I read the post.  

[HOPE2]

Thank you so much @Just-Lisa-Now- 

They have a refund. I entered the 1099 on Schedule C and deducted the related expenses. As a result, the refund is $4 lower than they expected. What is your opinion?

[Just-Lisa-Now-]

wait for the original refund to be received then send the amendment with the $4 thats due.

[HOPE2]

@Just-Lisa-Now- Did you mean when the transcript is generated on the IRS side?

[Just-Lisa-Now-]

Im not following, why would a transcript be involved?  Once they get the original refund, have them call you and you can EF the amendment.  You can have the $4 direct debited or they can mail in a $4 check, the program should generate a 1040V voucher for the difference.

[TaxGuyBill]

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@HOPE2 wrote:

I entered the 1099 on Schedule C and deducted the related expenses.

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Related expenses?  The client didn't tell you about the income AND did not tell you about the expenses?  That almost seems like they are hiding things from you and/or inventing false expenses.

[qbteachmt]

"gave me a new 1099-NEC"

I wondered the same thing others did. Is this client not revealing their activity in total, not revealing it at all and thinking it only matters when there are 1099-NEC informational forms issued?

"Can I file a 1040-X today?"

Shouldn't you ask them for all the numbers, now that you learned they are missing info? It's not just this one form's amount, I bet. If they don't have complete records, make sure they know that ignoring info which is discoverable (a word I use in class) means they need to figure out the missing info and provide it so that this is the only amendment you need to do for them.

I don't like working with people who hide info.

[HOPE2]

Thanks@TaxguyBill,  perhaps I did not express myself correctly, but I appreciate that you always pay attention  to the details, again thank you so much,

I meant when he provided new documents after submitting the original one. I just wanted to check out his Uber tax summary and his 1099s to see what is going on with his return, not before submitting the original one.

[George4Tacks]

@HOPE2 Consider a superseded return. https://accountants.intuit.com/support/en-us/help-article/amend-tax-return/e-filing-superseded-retur... 

[BobKamman · Accepted solution]

Whether filed on paper or electronically, amended returns are like the food on your plate:  It's all going to the same place.  And the latest from IRS is that they are working now on amended returns filed last October.  (And that was before the election.)  So I would wait until after April 15, when you have more time and your client may find even more 1099's to bring you.  Also, you will know if there is any error correction on the original return.  The world is not going to come to an end if you rush to do this, but your health might be jeopardized. 

Here is where to find out IRS processing times:

https://www.irs.gov/help/processing-status-for-tax-forms 

[HOPE2]

@BobKamman 

Thanks a lot for the awesome advice! It really helped me out.