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1099-NEC form issued for a duplicate payment
March 28, 2023
Q. We issued one of our suppliers a 1099-NEC for total payments issued in 2020. It was later found out that there was a duplicate payment so they issued a refund check in 2021 and asked if we can issue a corrected 1099-NEC form with a reduced amount.
Should we provide them a corrected 1099-NEC as requested?
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,…
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