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Submitting corrected 1099s
February 24, 2023
Q. We have two incidents where we need to correct a 1099, both changing amounts. One being we had a dollar amount that was actually refunded so they should not have gotten a 1099 and the other is a different amount. I filed electronically with the IRS, can I just send in the two corrections electronically or by paper?
A.
(Answered by IOFM's third-party tax experts)
You can file those two corrected 1099s either electronically or on paper forms -- your choice. New regulations are changing that…
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