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Voided and reissued payment
January 17, 2023
Q. We issued a payment to someone in 2020 and also issued a 1099 in 2020. In 2022 we had to void the payment and re-issue it. Would we need to issue another 1099 in 2022 for the re-issued 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 2020 -- or no receipt in 2020 but receipt in 2022. If this was a check mailed to the payee in 2020 but lost in the mail and never…
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