AlanT222
Expert Alumni

After you file

You are required to report all income earned in the year it was received.  Generally, if you do not report all income, the IRS will send you a notice of deficiency.  They will either correct your return to include the interest or require you to file an amended income tax return.  Assuming that you have not received notices for the years in question, the amount of interest you did not claim did not amount to a significant change in your tax liability.  

 

If the interest was significant and likely to cause you to owe tax, use these instructions to amend your tax returns.  If the interest was not significant, wait for the IRS to give you instructions.  

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