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I completely forgot b/c I've been under so much stress...so what should I do?

I filed my taxes and claimed partial income. I'm a tutor and cosmetologist from my home. I also receive child support ($6000) a year, but I completely forgot to mention it. I think it was b/c I went to a new company and waited forever. When I was seen I just wanted to get out of there. Anyhow, what should I do now? Or can I wait til next year to add it in? Will it most likely decrease my refund (which was under $2000 b/c of the tax credit) or will it increase it? Any advice would be appreciated b/c I don't want to be audited for making a mere mistake. Thanks!

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Anonymous

Asked by Anonymous at 10:15 AM on Feb. 27, 2009 in Money & Work

Answers (4)
  • I would redo this years taxes. Having child support every year except one will red flag you. The child support will decrease your refund because it is added income you had.
    kboney29

    Answer by kboney29 at 10:16 AM on Feb. 27, 2009

  • Okay so, do I have to redo now or can I redo by April 15th? thank you!
    Anonymous

    Answer by Anonymous at 10:37 AM on Feb. 27, 2009

  • You can file for an amendment. Go to http://www.irs.gov/ and they have more info their. I don't know about childsuport, but if you want to file amendment it's forms 1040X and 1040.
    MomOfJandM

    Answer by MomOfJandM at 12:22 PM on Feb. 27, 2009

  • Redo it by 4/15 to avoid any tax penalties on the unreported income.
    halfpint_ny

    Answer by halfpint_ny at 8:01 AM on Feb. 28, 2009

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