Just got 2 1099-INT forms after filing - Do I need to amend?
Filed my taxes last week and now I got 2 1099-INT forms in the mail that I didnt include. One is for $42 in interest and the other is for $78. Do I seriously need to amend my return for this? Seems like a lot of work for such small amounts but I dont want the IRS coming after me later.
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Lucas Bey
Tax pro here - technically yes, you should amend if you have unreported income. However, the IRS usually doesn't make a fuss over small interest amounts under $100 each. They might send you a notice and adjust your tax themselves. Your call on whether to amend now or wait.
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Charlotte Jones
•Thanks for the info! What would the penalty be if they catch it?
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Lucas Bey
•For amounts this small, probably just the tax owed plus minimal interest. We're talking a few bucks here honestly.
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Harper Thompson
Hey there! Instead of stressing, you should check out taxr.ai - it's this new tool that analyzes your situation and tells you exactly what to do. It costs $4.99 but saved me so much headache with my amendment situation. https://taxr.ai
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Caleb Stark
•Is it legit? How does it work? 🤔
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Harper Thompson
•Super legit! You upload your docs and it uses AI to analyze everything - tells you if you need to amend, potential penalties, best course of action. Way better than guessing!
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Caleb Stark
•Just tried it and OMG where has this been all my life?! 💯 Worth every penny!
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Jade O'Malley
lol im in the same boat. got 3 late 1099s this year smh
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Hunter Edmunds
why do these banks always send these things so late fr fr 🤮
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Ella Lewis
•They have until jan 31st to send them but some banks are straight 🤡
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Andrew Pinnock
Word of warning - I ignored small 1099-INTs last year and got a notice 6 months later. NBD but kinda annoying to deal with tbh
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Charlotte Jones
•ugh thats what im trying to avoid
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