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Amending Form 1099 After It Has Been Filed

Not every Form 1099 submitted to the IRS is correct, and there are many types of errors that can creep into this form, especially if you issue many 1099s each year.  There are different processes for correcting and amending a 1099, depending on whether you are a recipient or the one who filed the incorrect form.  Form 1099 may be filed by paper or electronically.

Steps for Recipients of an Incorrect Form 1099

Most 1099s deal with independent contractor income, using Form 1099-MISC.  If you receive multiple 1099s there is a chance of errors, so the first step is to check the 1099 as soon as your receive it against your own records.  Since February 2nd is the deadline in 2015 to receive a 1099, you will have at least a month until the issuer must submit the form to the IRS on March 2nd , or even later on March 31st for those who file electronically.  Of course, some issuers may send both at the same time, but if you check the form as soon as you receive it you should be able to contact them in time to have a new, correct form sent to you.

Even if the form has been sent to the IRS, you can request a “corrected” form from the issuer.  The “corrected” box will inform the IRS that this is a new version of the one already sent.  If the issuer wont send you a new form, then you will have to handle the incorrect form yourself, and explain the discrepancy or mistake to the IRS in an attached statement.

Steps for Issuers of an Incorrect 1099

The steps for correcting a 1099 that you may have issued depend on the type of error.  The most common type of error will be incorrect money amounts listed on the form, and in this case the remedy is to simply prepare a new 1099 with the box marked “corrected”.   Correct the information and file the new form.  This is the same process to use if the name or address were entered incorrectly.

Forms that have errors in recipient tax identification numbers, or incorrect name AND address have a slightly different process for correction.  You first prepare a new 1099 marked “corrected” with the exact same information as the original return, but enter zero for payment amount.  This alerts the IRS that there was a problem.  Then prepare a new form with the correct information and submit it as though it is an original, without marking the “corrected” box.  This identifies the second form as the correct version for the IRS.

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Erich J. Ruth

Erich J. Ruth provides technical support for National Software which is the parent company for 1099FIRE. 1099FIRE develops and markets a comprehensive range of products that enables any size of business or institution to effectively manage and comply with year-end filing requirements. 1099FIRE is an employee-owned company located in Phoenix, Arizona.

If you have any questions or comments about our software, feel free to contact us at any time.

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