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Vendor requesting 1099 for a year in which one was not issued
January 13, 2023
Q. I had a vendor reach out that they are now trying to file their 2021 taxes and are looking for a 1099-NEC from us. This vendor was not coded to report, therefore no 1099 was generated. Although we've updated their profile for 2022, I'm wondering what the risk is to our company by either hand writing a 2021 1099-NEC and reporting now or not doing so. If we report this now on a hand-written transmittal, does this open up our company to audit? If we don't report now for 2021 but tell the vendor…
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