Hey friendly money-savvy folks,
I put myself in a bit of a pickle with my 2025 taxes. Specifically, I realized some capital gains in 2025 and forgot to pay estimated taxes on them. I also realized some in 2026, on which which I DID pay estimated taxes. When filing my 2025 taxes I wrongly listed the estimated payment from 2026 - just a late night oversight, but I had submitted my return before i realized.
Now I have a code 570 on my transcript and my refund (which shouldn’t be a refund) is understandably hung up.
I’m wondering what the right move is, and would love some advice. I see primarily three options here:
- File an amended return now. Pay what I owe (plus maybe the amount of the refund on my original return?).
- Wait for the IRS to notice my error, kick a correction and a bill back to me, and pay the bill
- OR if they don’t file an amendment at that time
- Send the IRS a letter correcting the tax year for my early 2026 estimated tax payment. Make a fresh estimated payment for 2026 taxes.
Clearly there may be more routes I’m just ignorant of.
Overall I’m just stressed about having made an error, and I want to square it as quickly as possible (which is kind of why I want to just file and amended return and be done with it - but I’ve heard THAT can also result in the process being slowed down in its own right).
Happy to post my transcript with PII redacted if that helps, and thanks in advance for the advice!