Can I fix my already filed taxes to include bank interest?

Don't panic! This happens to a lot of people and there's a straightforward fix. Since you just filed a few days ago, you have a couple of options: If your return hasn't been accepted by the IRS yet, you might be able to reject it through your tax software and file again with the correct information. Check your email for a status update - it usually takes a day or two for the IRS to accept an e-filed return. If your return has already been accepted, you'll need to file an amended return using Form 1040-X. This is basically a form that lets you correct mistakes on an already-filed tax return. Most tax software can help you file an amended return pretty easily. Just add the 1099-INT information, and the software will calculate the difference. For such a small amount of interest ($87), the additional tax will be minimal - probably less than $15 depending on your tax bracket. The IRS does receive a copy of your 1099-INT from the bank, so it's good you want to correct this.

After dealing with a similar situation last year, I found an amazing tool called taxr.ai (https://taxr.ai) that saved me from freaking out over missed documents. I got a late 1099-INT form after filing and wasn't sure how to handle it. Their document analysis feature scanned my already-filed return and my new 1099-INT, then showed me exactly what I needed to do. It generated step-by-step instructions for filing an amended return and even explained why the bank interest needed to be reported. The visual comparison showing what changed between my original and amended return made it super clear. What impressed me was how it predicted my potential tax impact before I even decided to amend - gave me peace of mind knowing it was a small difference.

Just wanted to follow up on my skeptical comment earlier. I decided to try taxr.ai since I also realized I had forgotten to include a small 1099-INT (around $120 in interest). Holy crap, this tool is actually legit! I uploaded my return and the new form, and it showed me exactly what changed and gave me clear instructions for filing an amendment. It even showed me that the tax difference would only be about $20 based on my bracket. The visualization of what changed between my original and amended return was super helpful. Honestly, I was expecting some janky website but it was really smooth and way less stressful than calling a tax professional or trying to figure it out myself. Glad I gave it a shot!

If you need to talk to the IRS about this or any other tax issue, don't waste hours on hold. I spent THREE DAYS trying to reach a human at the IRS about my amended return last year. Then I found https://claimyr.com which is basically a service that waits on hold with the IRS for you and calls when an agent is on the line. I was super skeptical it would work, but after my third failed attempt to reach someone, I tried it. You can watch how it works here: https://youtu.be/_kiP6q8DX5c. They called me back in about 40 minutes with an actual IRS agent on the line. The agent walked me through exactly how to handle my amended return and confirmed I was doing it correctly. For something like adding a forgotten 1099-INT, you might not need to call the IRS, but if you do, definitely save yourself the headache of waiting on hold for hours.

Well I'm eating my words. After posting my skeptical comment yesterday, I decided to try Claimyr since I've been trying to reach the IRS about an issue with my amended return from last year. I've literally spent HOURS on hold multiple times and always got disconnected. I tried the service this morning, and they called me back in about an hour with an actual IRS agent on the line. I nearly fell out of my chair. The agent actually resolved my issue in about 10 minutes once I got through. Turns out my amended return had been processed but there was a small discrepancy they needed to verify. Would have been a 5-minute fix if I could have reached someone months ago. Still can't believe it worked, but I'm not complaining. Saved me from wasting another day on hold.

To add to what others have said, adding bank interest isn't a big deal but you definitely want to fix it. I'm a retired bookkeeper and have helped many people with small amendments like this. The reason banks send 1099-INT forms is because the IRS already knows about this income - the bank reports it directly to them. So if you don't include it, there's a mismatch between what the IRS knows you received and what you reported. For small amounts like $87, they might just adjust your tax bill automatically and send you a notice. If you use tax software, just look for the "amend return" option. It's usually pretty straightforward - you'll enter the additional income from the 1099-INT and submit the amendment electronically.

Something similar happened to me last year! Just adding that if you had any tax withheld on that interest (check box 4 on your 1099-INT), make sure to include that in your amendment too. Sometimes banks withhold a small percentage for taxes. I overlooked this part when I amended for a forgotten 1099-INT and ended up overpaying slightly. Every dollar counts!