topic 1099-INT Received from IRS for 2021 AFTER Taxes filed in After you file

1099-INT Received from IRS for 2021 AFTER Taxes filed

whtreadaway — Mon, 31 Jan 2022 23:54:21 GMT

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?

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

Critter-3 — Mon, 31 Jan 2022 23:56:58 GMT

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

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

LennyG3 — Tue, 01 Feb 2022 21:03:16 GMT

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?

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

DaveF1006 — Tue, 01 Feb 2022 21:16:20 GMT

@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.

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

LennyG3 — Tue, 01 Feb 2022 21:28:15 GMT

Dave F1006,

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

Curious. LennyG3

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

Critter-3 — Tue, 01 Feb 2022 21:38:21 GMT

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.

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

AnnetteB6 — Tue, 01 Feb 2022 21:45:03 GMT

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

Re: 1099-INT Received from IRS for 2021 AFTER Taxes filed

SteamTrain — Wed, 02 Feb 2022 00:45:44 GMT

...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