You need to send a letter to the IRS with the corrected payer Name and/or TIN. You DO NOT have to reissue any corrected 1099s to your recipients.
To prepare the letter in TaxBandits:
- Click Start New >> Form >> 1099/1098 Corrections.
- Select Tax Year and click Continue under Correct 1099/5498/1098 Payer Details.
- Select the Business and correct the Payer Name and/or TIN by selecting the required check box. Provide the corrected information.
- Click the Generate button to download the letter, sign it, and mail it to the address below.
Internal Revenue Service
230 Murall Drive, Mail Stop 4360
Kearneysville, WV 25430