Is it too late if to make changes if I've already submitted my taxes?
i submitted my taxes last night online and got a pretty good refund on the federal side and owed only $99 on the state side. i thought that was pretty good because i usually owe the state $700+. i just went back on HR Block just now and punched in the numbers again to make sure i did it right. after i punched in the federal section, it's asking me if i want to file state w/ HR Block and says that the average return for my income for 2005 was $585-620. i'm just worried now if i did something wrong because i owe $99 but it says the average person w/ my income got a REFUND of over $500. last night i was just happy that i only owed $99 instead of owing the usual $700+.
so, my question is, if i double check here and realize that i did something wrong to OWE money rather than to receive a refund, what can i do? is it too late to do anything?
Is it too late if to make changes if I've already submitted my taxes?concertsNumbers for "average" refunds are TOTALLY WORTHLESS. Only your specific tax situation and tax return mean anything at all to you. The amount of any refund or balance due is based upon your tax liability and how much tax was paid in through withholding from your pay. Do NOT be concerned with or guided by "averages" as they are meaningless!
If you review your return and discover an actual error, you would need to file an amended return. On the Federal side, that's on Form 1040X. Each state has their own forms and procedures for amended returns; check with your state's tax department for yours.
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