Forgot to file a MISC-1099 - $66

[LdiJ]

So I do have 3 years to file this right? Isn't it better to send it now then for them to contact me?

Once again, because the amount of money is so low it doesn't make any difference at all whether you do it now or wait for them to contact you, politically, and financially it won't make more than a dollar or two of difference.

 

[AdviceFreeUser]

Once again, because the amount of money is so low it doesn't make any difference at all whether you do it now or wait for them to contact you, politically, and financially it won't make more than a dollar or two of difference.

If they don't contact me then there is no interest and penalties right?

 

[AdviceFreeUser]

How come I have not recieved a letter regarding this? Should I call IRS?

If I file Amended 1040x, then do I have to do the whole 2009 federal return over again? I did this online through H and R Block.

 

[AdviceFreeUser]

You could file the 1040X or wait until they contact you...which would be some time in the spring or summer of 2011. Its not going to make more than a dollar or two of difference in what you owe and the IRS isn't going to make a big deal out of it.

Why would they take so long to contact me though? Why spring or summer of 2011?

 

[davew128]

What happened when you read the instructions to the form?

 

[AdviceFreeUser]

What happened when you read the instructions to the form?

What do you mean?

 

[davew128]

What do you mean?

It means you should have read the instructions to the form.

 

[LdiJ]

Why would they take so long to contact me though? Why spring or summer of 2011?

Because that is when the IRS will run the matching programs to see what forms might have been left off of tax returns for 2009. You may never get a letter for an amount so small.

 

[LittleWhite]

So I do have 3 years to file this right? Isn't it better to send it now then for them to contact me?

No, you do not need to file an amended return. Do not worry about the $20 unless you really want to because you like doing it. The IRS will not come after you for the $20 because, honestly, they have bigger fish to fry. Even if they DO notice it and send you a letter, the penalties and interest MIGHT be $5.

Take a deep breath. This is not worth fretting over.