The gap between the reported and actual COVID-19 infection cases has been an issue of concern. Here, we present Bayesian hierarchical spatiotemporal disease mapping models for state-level predictions of COVID-19 infection risks and (under)reporting rates among people aged 65 and above during the first two years of the pandemic in the United States. With prior elicitation based on recent prevalence studies, we suggest that the median state-level reporting rate of COVID-19 infection was 90% (interquartile range: [78%, 96%]). Our study uncovers spatiotemporal variations and dynamics in state-level infection risks and (under)reporting rates, suggesting time-varying associations between higher population density, higher percentage of minorities, and higher percentage of vaccination and increased risks of COVID-19 infection, as well as the association between more easily accessible tests and higher reporting rates. With sensitivity analyses, we highlight the impact and importance of incorporating covariates information and objective prior references for evaluating the issue of underreporting.