How do I file 1099-NEC corrections in TaxBandits?
464 views | Last modified 1/30/2021 2:51:09 AM EST

Applicable To
94X 1099 W-2 ACA W-4

After the IRS accepts your 1099-NEC and you want to correct the information reported earlier, file a correction form in TaxBandits. Your original 1099-NEC could have been filed with other service providers or with TaxBandits

You can correct the following:

  • Payer TIN & Name. You need to send a letter to the IRS with the necessary information along with your signature. We will guide you through the steps.
  • Recipient details and amounts reported earlier. Here, you need to provide the originally reported information along with the correct information.

Here’s how you file a 1099-NEC correction:

  • Sign In to TaxBandits
  • Go to Home >> Start New Form.
  • Click 1099 Corrections and choose Tax Year. To correct the amounts paid as non-employee compensation for years 2019 and earlier, you need to file 1099-MISC corrections.
  • Select 1099-NEC from the drop-down menu.
  • Options to Payer Details Corrections and Recipient & Amount Details Corrections are available.

 


Correct Payer details

  • Click Continue under Payer Details Correction.
  • Enter the originally reported payer details in Step 1
  • In Step 2, the options to correct Payer Name and TIN are available. Select the checkboxes corresponding to the fields you want to correct.

 

 

 

  • Click Download the Correction Letter to download a copy of the letter.

 

 

  • Print, sign, and mail the correction letter to the IRS at the below address:


     Internal Revenue Service

     Information Returns Branch

     230 Murall Drive, Mail Stop 4360

     Kearneysville, WV 25430


 

Correct Recipient & Amount details

 

Choose if you filed the original 1099-NEC with TaxBandits or with some other service provider. Filed with TaxBandits or Filed with other Service Providers.

 

  • Filed with TaxBandits

    • Only after the IRS accepts your original 1099-NEC will you be able to do a correction. You would have received an email notification on your filing status by now. 

    • Click Continue >> Filed with TaxBandits, correct the payment information and continue with the filing flow to complete the correction form.

 

  • Filed with other Service Providers

    • Click the Filed with other Service Providers option.

    • Enter the payer and recipient details and correct the payment information. Please continue with the subsequent steps to complete it.


Once you transmit the forms to the IRS, a copy of the corrected 1099-NECs will be available in the Print Center for download.

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