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Different types of 1099 corrections after forms have been submitted

Last Updated: Feb 27, 2018 06:00PM CST
Note:  If you need to make a correction on a form that has a future Scheduled Date then you can make changes on the form instead of creating a corrected form. Types of corrections allowed after forms are submitted, but not yet e-filed to the IRS (future scheduled date).
 
1. Amount: You can increase or lower the amount or even move an amount from one box to another. You CAN'T zero out the form. That is only allowed on corrected forms and you can't change the form type from regular to corrected after being submitted even if they are not yet e-filed to the IRS.
2. Payer TIN: You can edit the TIN that exists, if you are off by a number or few numbers.
3. Payer Name: You can edit the name but can't select a different payer from the existing drop down.
4. Payer Address
5. Recipient TIN: You can edit the TIN if you input incorrect one, but can't be an already existing
6. Recipient Name: You can edit the name in the profile. can't select a different recipient from drop down.
7. Recipient Address
8. Payer Type: You can change payer type from business to individual or individual to business (EIN to SSN or SSN to EIN).
9. Recipient Type: You can change the recipient type from business to individual or individual to business (EIN to SSN or SSN to EIN).


You can't edit state information in the form. 
You can't change from type, like from a 1099misc to a 1099INT



This will save you money and time. If the Scheduled Date is still dated in the future you can click the drop down next to the form and click Edit. Make changes and save. Then the IRS will get that updated information when the forms are submitted to the IRS when that Scheduled Date arrives. You will not be able to mark as corrected because it is still an original form when it goes to the IRS.


Need to file a correction on an already accepted form? Tax1099.com can help you file both Type 1 and Type 2 corrections electronically, even if you filed your original form with another company. There are two types of corrections. Use the chart below to determine what type of correction you need to file.


 Type 1 Corrections:                                                 

● Wrong Amount 

● Wrong Box Number reported

● Forgot to Check corrected Box

● Should not have filed 1099 form for a recipient 

● Wrong address have been filed


Type 2 Corrections:

● Wrong Tax ID or Missing Tax ID for Recipient 

● Tax ID type from EIN to SSN or SSN to EIN and name combination change
(example Someone filed a Business name with an SSN or filed an Individuals name with an EIN)

● Wrong Recipient Name

● Wrong tax year


Type 1 Corrections:

Create new form by clicking on Forms, New Form.
Select Tax Year and Form Type.
Select Payer from drop down list.
Select Recipient from drop down list.
Click the box at the top of the form that says 'corrected'.
Enter the correct amount in the correct box.
  • If the amount was in a different box previously reported, put a zero in that box and then put the correct amount in the correct box.
  • If address was wrong, update address in profile
  • You did not need to file for the person, enter a zero in the box where it was reported previously
Save and submit.
You will need to request a copy to be sent to the recipient again either via email or USPS for an extra $1.50 per form.


Type 2 Corrections:
Create new form by clicking on Forms, New Form.

Select Tax Year and Form Type. (with incorrect information where applicable)
Select Payer from drop down list.
Select Recipient from drop down list. (with incorrect information where applicable)
Click the box at the top of the form that says 'corrected'.
Put a zero in the boxes where a value was previously reported. 
Save and submit.

WAIT!!!  Must wait until the form gets accepted by the IRS.
Then you can update the profile of the recipient.
Click on People, Manage Recipients.
Change Payer at top of list if necessary.
Locate recipient and click Edit.
Make changes and click Update.
Create another new form by clicking on Forms, New Form.
Select Tax Year and Form Type. (the correct information)
Select Payer from drop down list.
Select Recipient from drop down list. (the corrected one)
Plug in the values in the appropriate boxes.
Save and Submit.




Error in Reporting the Payer:

If an error is discovered in reporting the payer (not recipient) name and/or TIN, the payer should write a letter to the IRS containing the following information:
  • Name and address of payer
  • Type of error (include the incorrect payer name/TIN that was reported)
  • Tax year
  • Correct payer TIN
  • TCC number (you will need to give Tax1099 your reference # and request the TCC and Orig # from your filing)
  • Type of return
  • Number of payees (recipients)
  • Filing method, paper or electronic
  • If federal income tax was withheld
Mail correspondence to:
Internal Revenue Service
230 Murall Drive, Mail Stop 4360
Kearneysville, WV 25430
 

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  • Call us @ 877-811-ETAX (3829).
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