1099-INT Received from IRS for 2021 AFTER Taxes filed

[whtreadaway]

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? 

[Critter-3]

Don't worry about $20 ... the IRS will not bother you for that small amount.

[LennyG3]

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?

[DaveF1006]

@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.

[LennyG3]

Dave F1006,

    May I ask why I should wait until 2/24/22?

Curious. LennyG3

[Critter-3]

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. 

[AnnetteB6 · Accepted solution]

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

@LennyG3

[SteamTrain]

...ANNNND,

..........in the next 3 or 4 weeks, you may discover some other tax forms you forgot about or didn't remember were still yet to be issued.  Brokerage&Mutual fund forms commonly aren't issued until sometime in February. And some REIT's?  March