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1099 correction file format
February 12, 2024
Q. We have a situation where we submitted our 1099-NEC e-file to IRS. A few day later we found out that for one of our vendors we sent out the wrong amount; also their TIN# was blank on the file as well. I read section of the publication 1220 about correction files and I'm just trying to clarify what type of format to use, whether one-transaction format or two-transaction format?
A.
(Answered by IOFM's third-party tax experts)
Follow the two-transaction procedure, instructions on page 18 of IRS…
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