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1099 for an uncashed check
March 27, 2023
Q. If a 1099 was issued for 2020 for a check that was never cashed and needs to be reissued, do we have to correct the 1099 if the files have already been submitted to the state and the IRS?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
It depends. If the payee received but never cashed the check, no correction is required…
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