If you successfully transmitted a file through the IRS FIRE System that you later realized
contained erroneous information, then you need to file a correction for just the records that
had erroneous information. You have until August 1 to file a corrections but the IRS FIRE System
remains active until late November giving you the opportunity to file corrections 11 months out
of the tax year. The filer must furnish a corrected Copy B to the recipient(s) as soon as possible.
We can prepare and efile corrections for any 1097-BTC, 1098, 1099, 3921, 3922, 5498, W-2G, 8027, 8955-SSA and 1042-S forms. Corrections take time to prepare and efile and we do charge for this service.
|Prepare and electronically file 1099 corrections.||$99.95|
There are two types of corrections: 1-step and 2-step corrections.
1-step correction (or one transaction correction)
Here the original return that was filed had incorrect payment amounts or you are trying to void the transaction. In this case, put a check in the corrected box and upload a correction with the correct money amounts.
2-step correction (or two transaction correction)
If the original return that was filed had an incorrect TIN (or no TIN) and/or payee name, then you want to efile a 2-step correction. The first step will have the original data with the money amounts set to 0. This step voids those records. The second step has the correct data and the correct money amounts.
95% of the corrections we efile involve incorrect payment amounts, voiding transactions, incorrect TIN and/or payee names. Other types of corrections we can prepare are below:
Incorrect payment amount codes
Incorrect distribution code
Incorrect payee indicator
Wrong type of return indicator
Incorrect payer name and/or TIN
There are also two common situations that are not corrections:
If you failed to submit a record to the IRS by the due date, then its not a correction. Instead its a late original. Put together a file with just the record(s) that were omitted and transmit.
If you transmitted a file to the IRS and it came back as BAD, then the file was never accepted by the IRS. In this case, you clean up whatever errors the file had and resubmit as a replacement or as a new original. A correction arises when you submitted a file to the IRS and it came back as "GOOD, Released" status and you later you realize some of the data was erroneous.
Call sales at (480) 460-9311 to order this service by phone or with questions.