Missed adding a 1099 INT to my 2019 tax return

[hashu1]

Hi - I filed my taxes on April 2 and it was accepted on April 3.  After submission, I realized I forgot to add a 1099 INT from my Mortgage servicer of interest income of $15.

I got my state refund within a few days, however Federal is still sitting in "return received" with today being 2 weeks since filing.  I am expecting a refund from federal as well.  Should I file an amendment for this missed 1099 INT income of $15 or wait until I get my refund and then amend?

[bluedeb · Accepted solution]

The IRS recommends that you wait until your original return is fully processed (receive refund) before you amend.  Amended returns must be mailed & they can take up to 16 weeks or longer to be processed.

[hashu1]

thank you for the quick response.

I am sure they already have the 1099 INT on hand from the servicer.  If so, can't they just update the refund less any money owe from the 1099 INT which is $15?

[bluedeb · Accepted solution]

No, the IRS does not just update your return unless they catch the error.  That is why the IRS suggests you wait until your original return is fully processed.  If they don't catch the missing 1099-INT form then you will need to amend your return.

[hashu1]

I really appreciate it  your response.

[bluedeb]

Your welcome!

[hashu1]

Sorry - one more question on this.  If the IRS catches the error, I assume they will either 1) correct it and lessen the refund where applicable or 2) send the refund and then I will have to amend, correct?

Also, since its been 2 weeks since it was showing as "return received," is this still within the timeframes of processing the return before they issue the refund? wondering if my miss on the 1099 INT perhaps has flagged something...

Appreciate the feedback...

[bluedeb · Accepted solution]

@hashu1  Yes, if the IRS catches the missing 1099-INT, your refund amount should be a little different & the IRS would send you a letter explaining what they did.  If they send the refund without the 1099-INT correction then you would amend your return to include the form.

Missing the 1099-INT does not mean your return is flagged.  Allot of taxpayers forget to add forms, that is why there is an amendment form.

The IRS is short hand right now due to Covid-19, it may take a little longer to process returns.  You can keep checking the IRS Where's My Refund for updates on your return/refund.  The Where's My Refund only updates once a day.

[hashu1]

thank you for the response.  its greatly appreciated!

[bluedeb]

Always glad to help!  If you need anything else, just ask.