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Should I void or correct 1099 forms?

This is a common question.  You e-filed incorrect data through the IRS FIRE System.  Relax.  Others have as well.  I have been down this path.  You have choices:

1. When you submit a file to the IRS FIRE System, the initial data is sent to the Enterprise Computing Center – Martinsburg.  Their address and phone number are here:

IRS-Enterprise Computing Center – Martinsburg
Information Reporting Program
230 Murall Drive
Kearneysville, WV 25430
or outside the US 1-304-263-8700

It takes about 10-12 days before the data is released to the IRS.  If you submitted incorrect 1099 data, you have that 10-12 window to call the above number (866-455-7438) and ask them to delete the file you sent.  Have your TCC on hand and the file number and they will be able to close the file with no replacement by the phone.

2. If the data has been released to the IRS, then you must file a correction.  Void is not an option.  There are 1-step corrections and 2-step correction.  A 1-step correction is when you are correct money amounts, distribution codes or amounts.  A 2-step correction is needed when you are correct a TIN and/or payee name.  Here you put together 2-files; the first file has the original incorrect TIN/name and the money amounts set to 0 (this voids the transaction) and the second file has the correct TIN/name and money amounts.  Both files are corrections; the first file uses a ‘G’ for a corrected return indicator while the second file uses a ‘C’.

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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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