I found a Dividend I didn't report on my 2016 taxes. It increases the amount I owe by $5. I already transmitted efile. What do I do now?

[newmark]

Acorns 1099-Div had a dividend of $26, which increases the amount of my fed return that I owe by $5.  How do I fix or pay this?

[ThomasM · Accepted solution]

In theory, you could take the time to prepare an amended return and then file it along with a check for the additional $5 in tax.

Or, since this oversight is so tiny, you could simply wait for IRS to bill you, which they may or may not do over the next year or two.  Assuming your calculation is correct, they could bill you the $5 in tax, plus a penalty of one half of 1% of the tax due per month up to a 25% max -- again, of the tax due -- plus interest of 4% per annum.

Your call.