Hi, All:
Remember the reworked taxes last year where the IRS revised the taxes and some (maybe all) tax payers got additional money back? Well, I received a 1099-INT from the IRS for the interest they paid me (for holding onto the money then refunding more...).
Anyway - I had what I thought were all of my tax forms and submitted taxes online last week (24 January). I received the 1099-INT from the IRS today. I recalculated the addition of the Interest, and it doesn't change the amount of refund (interest is less than $20)
Should I revise my tax form? Wait till I get the refund then revise? Don't worry about it?
Form 1040-X Amended Return will not be released and ready to use until approximately 2/24/2022. At least that is the date shown on the availability chart as of today.
Even though it is unlikely to make a material difference in your tax return, filing an amended return for Federal and your state is advised so that you will have filed a complete return reporting all income.
To learn more about when the Form 1040X may become available, use the following link:
IRS forms availability table for TurboTax individual (personal) tax products
Don't worry about $20 ... the IRS will not bother you for that small amount.
Received a form today from the IRS for interest they paid me for 2021. I was totally unaware they paid me any interest. I have already filed my return. It was for $22.05. Do I need to file an amended return?
@LennyG3 Yes, since the IRS sent you this statement, you should file an amended return just to be safe. You will to wait until 02/24 to file your amended return plus it does need to accepted by the IRS before filing the amendment.
Dave F1006,
May I ask why I should wait until 2/24/22?
Curious. LennyG3
The main reason is the amendment process will not be functional until then AND your original return must be fully processed and the original refund in hand.
Form 1040-X Amended Return will not be released and ready to use until approximately 2/24/2022. At least that is the date shown on the availability chart as of today.
Even though it is unlikely to make a material difference in your tax return, filing an amended return for Federal and your state is advised so that you will have filed a complete return reporting all income.
To learn more about when the Form 1040X may become available, use the following link:
IRS forms availability table for TurboTax individual (personal) tax products