If you already mailed or eFiled your form 1099's to the IRS and now need to make a correction, you will need to file by paper copy a Red Copy A and 1096, fill out and mail to the IRS, if you need further assistance preparing your corrected paper copy, please contact your local tax provider or call the IRS at (800) 829-3676.
Note: If you originally efile your 1099's and need to make a dollar amount correction, you can file your correction on the efile site for the same tax year. Any prior years will need to be filed by paper. If you paper filed your original you will need to file the correction by paper.
To Efile a correction Log into your efile site
Select Help > About TaxRight/Laser Link for 2022 > Select Efile site > Log into using your email and password.
On the Dashboard Select Filed Forms to file a correction the IRS needs to Accept the form > Select the Recipient next the Recipient name will be File a Correction file
Information on filing Correction:
Filing Corrected Returns on Paper Forms:
Error Type 1
Incorrect money amount(s), code, or checkbox
Or
A return was filed when
one should not have been filed
These errors require only one return to make the correction.
Caution: If you must correct a TIN and /or a name and address, follow the instruction under Error 2.
Correction
A. Form 1098, 1099, 5498, or W2G
- Prepare a new information return.
- Enter an "X" I the 'CORRECTED" box (and date optional) at the top of the form.
- Correct any recipient information such as money amounts and address. Report other information as per original return.
B. Form 1096
- Prepare a new transmittal Form 1096
- Provide all requested information on the form as it applies to Part A, 1 and 2.
- File Form 1096 and Copy A of the return with the appropriate service center.
- Do not include a copy of the original return that was filed incorrectly.
Error Type 2
No payee TIN (SSN, EIN, QI-EIN, or ITIN)
or
Incorrect payee TIN
or
Incorrect name and address
Original return filed using wrong type of return (for example, a Form 1099DIV was filed when
a Form 1099INT should have been filed).
Two separate returns are required to make the correction properly. Follow all instructions for both
Steps 1 and 2.
Note: You do not have to file a corrected return for an incorrect payer TIN and/or incorrect payer name and address.
Correction
Step 1. Identify incorrect return submitted.
- Prepare a new information return.
- Enter an “X” in the “CORRECTED” box (and date optional) at the top of the form.
- Enter the payer, recipient, and account number information exactly as it appeared on the original incorrect return; however, enter 0 (zero) for all money amounts.
Step 2. Report correct information.
A. Form 1098, 1099, 5498, or W—2G
- Prepare a new information return.
- Do not enter an “X” in the “CORRECTED” box at the top of the form. Prepare the new return as though it is an original.
- Include all the correct information on the form including the correct TIN, name, and address.
B. Form 1096
- Prepare a new transmittal Form 1096
- Enter the words “Filed To Correct TIN,” “Filed to Correct Name and Address,” or “Filed to Correct Return”
in the bottom margin of the form. - Provide all requested information on the form as it applies to the returns prepared I Steps 1 and 2.
- File Form 1096 and Copy A of the return with the appropriate service center.
- Do not include a copy of the original return that was filed incorrectly.
This article will provide Type 1 and Type 2 corrections - How to correct the Payer TIN: https://support.custsupp.com/hc/en-us/articles/210237426-Filing-Corrections-1099-s-Type-1-and-2-Instructions-