I might have been recieving dividends for the past 2 years and have not reported or paid gains taxes on them. The amount is under $100. How do I fix this error???
You have two options: 1) File amended returns 2) Wait for a letter from the IRS and state then then pay the additional taxes due. The IRS routinely matches W-2s and 1099s to tax returns. It is not unusual for small mistakes to occur. A routine letter is generated for the additional taxes due. The amount is so small that any additional interest is probably not worth the effort to file amended routines.Debra
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