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How do I correct payer information on a 1099?

Views: 6765 Created: 2014-07-10 15:33 Last Updated: 2018-12-04 17:35

SYMPTOM

I need to correct payer data on a previously submitted 1099 form.  How do I do this?

SOLUTION

The IRS does not allow payer information to be corrected electronically.  To make a payer correction there are two options:

  1. Void the original 1099 and file a new 1099 electronically by following these steps:
    1. Submit a corrected 1099 through Yearli for the original 1099 by entering all zeros for the originally reported dollar amounts.  This will void the original submission.
    2. Submit a new 1099 with all of the correct information.
  2. To correct payer information without filing a corrected 1099, a letter can be written to the IRS.  For full information on the letter requirements, please visit IRS Publication 1220 and review the corrected returns section.

For additional information on correcting payer information, please contact the IRS at 1-866-455-7438.

APPLIES TO

  • Yearli Core
  • Yearli Performance