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Level 2
March 24, 2021
Question

federal tax due

  • March 24, 2021
  • 5 replies
  • 17 views

If interest was left off a return and $7 is due in tax.

Would the IRS send a notice for the $7?

This topic has been closed for replies.

5 replies

BobKamman
Level 15
March 24, 2021

Not unless you filed an amended return.  But we can start the discussion of, "What's the lowest amount you have seen as a tax assessment from a CP2000?"  I remember one a few years ago for $400.  Or maybe it was $500.  

taxlady11Author
Level 2
March 24, 2021

My Client just found the 1099 int but I already printed it.  Should i add it and reprint? Was wondering what's the lowest amount you've seen on a tax notice?  It is a waste of paper

for the IRS and me.

IRonMaN
Level 15
March 24, 2021

I wouldn't waste my time with something that small.  CAGMC. 

Slava Ukraini!