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I already filed my taxes and today I received a letter from my credit union that says I earned $20 in interest. Do I need to amend my taxes or am I ok?
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iI would hold on to the document and do nothing right now. If you do need to amend your return for some other reason, then add this $20.
The tax on $20 even at 25% tax bracket is only $5. IRS does use tolerances (which are not made available to the public) This would definitely be below that threshold.
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