Question:
I quit my job and they gave me my pension & I didn't roll it over, but I forgot to put on my 2004 taxes. Can I add it on to my 2007 taxes?
Answers:
No you can't add it to your 2007 taxes, you will need to file an amended return (1040X) for 2004. You will probably get some kind of notice from the IRS informing you that there is a discrepancy in your 2004 return between what you reported as income and what they have reported to them as income. They'll also assess you penalties and interest.
No.
You must ammend your 2004 returns.
Nope. File an amended form. Since you earned it in 2004, you're going to have to put it on that 2004 return.
If you received a 1099R, the IRS "knows", but they may or may not "notice" it.
File a 1040X to amend the return.
No, you can't just add it on to a different year, you'll have to amend your 2004 return and pay any additional tax that's due. It's possible that enough was withheld when you withdrew it to cover the taxes you owe, so you might even have a refund coming.
The IRS already knows, since they got a copy of the info on the 1099-R that you got showing the withdrawal. I'm surprised they haven't already contacted you about it.
The IRS may or may not notify you about this. This is because your employer probably took 20% from your pension for taxes. You may actually be due a refund, and the IRS doesn't usually notify persons a refund is available.
You will need to file Form 1040X for the year 2004 and include the income and withholding on your return. Only income taxes will be owed, no Social Security or Medicare. If taxes are owed, the IRS will assess you additional interest and perhaps penalties.
http://www.irs.gov/pub/irs-pdf/f1040x.pd...
Instructions:
http://www.irs.gov/pub/irs-pdf/i1040x.pd...
Don't delay because you will lose any refund coming to you on April 15, 2008.
Don't add it to your 2007 tax return. Rather, you must file an amended return (Form 1040X). The government will eventually discover your missing pension and send you a bill. You could wait for that and pay the tax, interest, and penalty then. I would recommend filing the 1040X form.
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