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Payment already 1099 reported voided and reissued the next year
March 28, 2023
Q. If we included a payment on a 1099 in 2021 however, voided the payment and reissued it in 2022, do we need to send the vendor another 1099 in 2022 for that payment?
A.
(Answered by IOFM's third-party tax experts)
It would depend on the fact situation as to whether there was actual or constructive receipt by the payee in calendar year 2021 -- or there was no receipt in 2021 but receipt in 2022. If this was a check mailed to the payee in 2021 but lost in the mail and never reached the payee,…
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