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Doofus H
New Member

Surprise 1099int

Only minutes after e-filing returns, the day's paper mail arrived. A letter from the Department of the Treasury containing a1099INT reminded me of interest earned from delay in refund of post-filing changes in 2020 tax law. The interest earned was a mere $12. In recalculating my 2021 taxes, it made no difference in tax liability. Is there a need to file an amended return for such a small amount, though it originated with the Treasury?

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2 Replies
MinhT1
Expert Alumni

Surprise 1099int

The difference in tax is de minimis and I would not amend my return.

 

You may in a few months receive a letter from the IRS asking for a few dollars. But it is unlikely unless your tax return has other issues.

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Surprise 1099int

I would wait and see what the IRS does.  It might take a long time to get a letter or bill from the IRS if they adjust your return for it.

 

But I once added $6 in interest and the tax went up $12! It pushed me into the next tax bracket. I was right at the line.

 

 

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