Filing Corrected Information Returns Electronically
A correction is when you electronically submit a file to the IRS and it comes back as GOOD and
RELEASED. Later you realize that the data contained erroneous information. In this situation, you
need to file a correction for just the records that had erroneous information.
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 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
Call sales at (480) 460-9311 to order this service by phone or with questions.