Members of the Maryland Association of Certified Public...

Tax answers

March 13, 1996

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.

Q: I worked part-time last year for one month, and the W-2 form I received listed an amount that greatly exceeds what I was actually paid. What should I do?

A: Before filing your tax return, request that your employer issue you a Form W-2C to correct the amount of wages reported on the original W-2. When filing your return, attach the W-2C, not the incorrect W-2.

Q: My wife and I have filed our tax returns, and I have received a letter about our 1099R. The old one was wrong and a new one will be issued shortly. What do we have to do?

A: Wait sufficient time for the IRS to process your return as originally filed. Then, file an amended return on Form 1040X for the federal government, Form 502X for the state of Maryland. The amended returns report income and deductions as originally filed, as well as corrected or changed items. Space is provided on the returns for an explanation. If the changes have increased your tax liability, you can avoid any penalty or interest charges by filing the amended return and paying the additional tax on or before April 15.

The above advice is for general purposes only and is not intended as legal, accounting or tax advice. Specific situations may vary. A joint service from The Sun and the Maryland Association of Certified Public Accountants can help you with your tax queries. Association members, all CPAs, will answer questions from readers until April 15. To ask a tax question, call Sundial, The Sun's telephone information service, at (410) 783-1800. Using a touch-tone phone, enter 6225 after you hear the greeting.

Callers are asked to leave their names and phone numbers, should questions need to be clarified. Selected questions will be answered in the Business section. No questions will be answered by phone. Names and numbers will not be published.

Pub Date: 3/13/96

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