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Amended return resulted in refund - pay original balance due?

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    Amended return resulted in refund - pay original balance due?

    Hi All,

    An easy question -

    Client originally showed a balance due on their* 1040.** Then he got a relatively large mortgage interest statement, and said he had health insurance all year.** This resulted in a balance due, as Schedule A became applicable and the ISRP was removed.**

    Should the client be advised to make the original payment of balance due?** Or can he wait until it washes with the 1040X being processed?

    Thanks!

    #2
    what year are you talking about? is it current year 2017 or later year.

    Comment


      #3
      He can wait until it washes. No matter which year...once it washes any penalty and interest will be erased.
      Believe nothing you have not personally researched and verified.

      Comment


        #4
        Originally posted by taxmom34 View Post
        what year are you talking about? is it current year 2017 or later year.
        Yes, 2017.

        Comment


          #5
          Originally posted by aussiegeoff View Post
          Hi All,

          An easy question -

          Client originally showed a balance due on their* 1040.** Then he got a relatively large mortgage interest statement, and said he had health insurance all year.** This resulted in a balance due, as Schedule A became applicable and the ISRP was removed.**

          Should the client be advised to make the original payment of balance due?** Or can he wait until it washes with the 1040X being processed?
          Let me get this straight - on his original return he apparently SAID he did not have health insurance. Correct?

          But now he SAID he had health insurance - I'm sure you saw the 1095-B or C or some other documentation. Correct?

          Comment

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