Q: A tax form showed up after I filed my taxes – should I panic!?

A: No need to panic – but don’t ignore it. Forms like 1099s or corrected W-2s often arrive late.

Here’s what to do:
• See if it changes your return. Does it report new income or revise something?
• If it doesn’t change anything – or changes something minor (under $100) – you may not need to act. But if you’re unsure, check with a tax pro.
• If it does change your return significantly, file an amended return (Form 1040-X) to avoid IRS notices, interest, or penalties.
• If you’d rather not amend now, set aside money just in case. If the IRS catches it later, they may send a bill – with interest and penalties added.
And if they do, don’t assume the IRS is always right – double-check their math. They may not have all the facts.

Any questions? I’d be happy to help.
I’m Vincent Hicks, CPA, based in Somerville with over 20 years of experience. Reach out at vhicksconnect@gmail.com or (859) 553-0788.

Disclaimer: This column provides general tax information and should not be considered tax or legal advice. Tax laws change frequently, and individual circumstances vary. For personalized guidance, consult a tax professional.