Question: Since altogether I've made $134 from surveys and declared and paid tax on $200 (meaning I over-reported
and over-paid, which is always allowed) - does it matter that I didn't report the exact right amounts every
year?
- No, if you over reported the income you would not necessarily have to amend for that reason and the paperwork may not be worth the effort. You always have that option until three years after the due date of the tax return or two years after the tax was paid whichever is later.
- You can add the correct amount to the taxable income (line on 1040) for each year to see if the tax table would be significantly different. It may not change your tax liability at all.
- IRS Prior Year Forms (simply type in 1040 - Form and Instructions will have the tax tables)
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