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Form 1099 Re-Do Changes Bring New Filing Requirements, Increased Penalties By J. Patrick Maverick, CPA Get ready for coming changes to Form 1099 filings, including increased penalties for late filings

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How to fill out form 1099 re-do changes

How to fill out form 1099 re-do changes:

01

Make sure to have a copy of the original form 1099 that needs to be corrected.

02

Review the information that needs to be changed or re-done on the form 1099.

03

Fill out a new form 1099 with the corrected information, following the instructions provided by the IRS.

04

Double-check all the details on the new form to ensure accuracy.

05

Attach a brief explanation or statement to the new form indicating that it is a correction or re-do of a previously filed form 1099.

06

Submit the corrected form 1099 to the necessary recipient(s) and retain a copy for your records.

Who needs form 1099 re-do changes:

01

Individuals or businesses who have previously filed a form 1099 with incorrect or incomplete information.

02

Those who have discovered errors on a previously filed form and need to correct the information.

03

Anyone who has been notified by the IRS or the recipient of the original form 1099 that a correction is necessary.

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