Our company accidently sent a 1099 to a corporation. We currently are without a c.p.a., and we are needing to know how to undo something like this, because how I understand it, a 1099 is also sent to the government who will fine us, when they shouldn't have received it in the first place. How do you undo a 1099 form?
Thanks!
2007-02-20 05:38:25 · 3 answers · asked by drummerdude 1 in Business & Finance ➔ Corporations
send a revised 1099 to the corporation with a zero amount. You will also have to send another 1096 to the IRS with a zero amount on it as well. You don't send a 1096 with a revised total...it's a 1096 that is specifically for that revised 1099. The IRS sees the original 1096 then sees the new 1996 and knows that the new one is designed to back out or add to the old....ie they total together not replace one another.
2007-02-20 05:46:08 · answer #1 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
Mistakes like this happen all the time. Send an amended 1096 form and void the 1099 sent by mistake with it to the necessary agencies.
2007-02-20 05:46:49 · answer #2 · answered by Darlin1_66 3 · 0⤊ 0⤋
why dont you just contact the IRS and ask it as a general question and dont give your company name? they will probably fix it for you anyway.
www.irs.gov
2007-02-20 05:46:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋