I am in the process of looking over the SF86 in preparation for filling it out in the coming months. I was in college the past couple of years and most of my income was non-taxable (GI Bill & VA Disability). The income I received outside of this was while working part time and was well below the limit that is required to file.
Today, I met with a CPA just to ensure all of my bases are covered and I learned that grants & scholarships can be counted as taxable income. Afterwards, I checked school documents and I now believe that I may have been about $800 over that limit (both years) with grants and scholarships figured in. I have a follow up meeting next week to file both years.
I check on the IRS website and it does not show that I owe anything, and I have not received anything in the mail. My question is - if I do end up owing money and pay that off immediately, will I have to check “yes” that I failed to file or pay? How bad does this look?