Should I amend my return if IRS sent me a 1099INT for 15.40 from last year's return?

[techn0richard]

We amended our return last year and IRS owed us a little more, well now they sent us a 1099INT for the interest it collected for 15.40, do I really need to amend it for that?

[VolvoGirl]

For 2021?  If they paid you interest in 2022 on your amended return it goes on your 2022 return.   Have you filed 2022 yet?  

[techn0richard]

Yes, that's why I'm freaking out bc that's another amended return😮‍💨 especially over $15.40

[VolvoGirl]

You already filed 2022?  Has it been accepted yet?  The IRS doesn't open until Monday Jan 23, 2023.  If you filed you have to wait and see if the IRS Accepts or Rejects your return.  If it is rejected you can fix it and resend it.  But if it is accepted you need to wait for it to be fully processed and you get the refund or pay the tax due.   Then you need to Amend 2022.  You may even get another 1099 later this month or in Feb you weren't expecting.  I haven't got all mine yet.  They have until Jan 31 to send out the tax forms.   We recommend not to file early because it's common to get more forms to file like this 1099.  

[Mike9241]

@techn0richard don't freak out. the iRS knows about this so one of two things will happen. your return will be rejected then you can fix it and resubmit. the IRS will catch the error and adjust your return accordingly. if the tax tables are used in figuring your tax since there are $50 increments before you rise to the next level it's possible there will be no change in the taxes.

[VolvoGirl]

Well I once added $6 of interest and my refund went down $12 (or tax due up)!  I was right at the line and went up to the next level.