If interest was left off a return and $7 is due in tax.
Would the IRS send a notice for the $7?
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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.
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.
I wouldn't waste my time with something that small. CAGMC.
That's like the warning letters they used to send (maybe still do) that say "we noticed you claimed as a dependent someone who was also claimed on another return." They didn't want to make an adjustment and get involved in a fight between former spouses. It doesn't cost much to send a slap on the wrist and a reminder not to do it again next time. If they got an amended return from it, so much the better.
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