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Auditing/mistake on w2 entry for box 12

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Question
When filing on line with turbo tax, I transposed the amount of my roth 401k contributions and didn't realize until after I submitted. I know I've already paid taxes on any contributions to that, but will the irs contact me about correcting that?

Thanks

Answer
Ken,
I doubt the IRS will contact you. They might if you have a large income - six figures plus or if your roth contribution was huge. Since the IRS is mostly concerned that taxes are paid on amounts earned and that is already done. If you feel the mistake was big enough then file an amended return with the correct amounts.

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Richard S

Expertise

Questions about the collection of taxes. I spent ten years in Collections and tax return review with the IRS and spoke with over 20,000 people. I worked with people to solve problems with their tax levies, liens, Offer in Compromise, unfiled tax returns, payment/filing options and general questions.

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Over 10 years with the IRS - recently retired. Handled thousands of cases - mostly for regular people that owed anywhere from a few hundred dollars to over $100,000.

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Masters Degree from Iowa State in Ames.

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