I received notice of a revised 1099 from my brokerage in an e-mail today (April 15), and I had already filed my 2018 tax return. The changes were an increase of about $10 each in both qualified dividends and regular dividends, and an increase of only $1 in capital gains. This will probably amount to an increase of less than $4 in the additional tax due. My question is: does the IRS expect me to file an amended return for this small amount?
(The postage and using certified mail will probably cost more than the tax due)
This topic was modified 2 years, 9 months ago by dontdare.
For most folks, the tax increase would be less than $2 (income increase of $11). Personally I would not do anything and let IRS decide if they had better uses of their precious resources. Be prepared , though, to pay interest on the amount due if they do decide to pursue………I think you could afford it.