Discussion:1099's with wrong "Recipient's Identification Number"

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Revision as of 00:49, 20 February 2008
Bottom Line (Talk | contribs)
(Payer will event)
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TxSrv (Talk | contribs)
(I still don't un)
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{{ForumReplyPost|UserID=Bottom Line|Date=20 February 2008|Text=Payer will eventually get a mismatch letter from the IRS. Would be NICE for payee to get this straightened out now.}} {{ForumReplyPost|UserID=Bottom Line|Date=20 February 2008|Text=Payer will eventually get a mismatch letter from the IRS. Would be NICE for payee to get this straightened out now.}}
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 +{{ForumReplyPost|UserID=TxSrv|Date=20 February 2008|Text=I still don't understand why the payee has to get involved. }}

Revision as of 01:07, 20 February 2008

Discussion Forum Index --> Basic Tax Questions --> 1099's with wrong "Recipient's Identification Number"
Discussion Forum Index --> Tax Questions --> 1099's with wrong "Recipient's Identification Number"

IheartTaxes (talk|edits) said:

19 February 2008
What do I do?

Taxpayer was issued several 1099's for work done during 2007. More than half of the 1099's the Taxpayer received have incorrect recipient EIN #'s. Therefore, less than half of Taxpayer's 1099's have correct EIN #'s. What should I do?

Can someone plese tell me what they think the best way to handle this would be?

Thank you for your help.

BEGooding (talk|edits) said:

February 19, 2008
Hmmmm, is it a coincidence that several payors entered the wrong EIN or is it the taxpayer filling out the W-9's incorrectly? Gotta wonder. I would request issuer to correct the 1099s. Ask them to pull the W-9s to see if taxpayer entered his EIN correctly. Remind taxpayer that his income is based on what he actually received even if s/he didn't receive a 1099.

Sandysea (talk|edits) said:

19 February 2008
EIN has 2 #'s in the beginning, SS#, has 3 #'s. Could be the "dash" is in the wrong place....even if the 1099 is incorrect; a penalty for the payor...the payee should report it...are the 1099's indicative of the monies earned? If so, file it and then the payor has a penalty of $50.00 for each reporting error :)

TxSrv (talk|edits) said:

19 February 2008
IRS is not likely to penalize the payer, but we need not care about that anyway. We report all income received (if cash basis), 1099's notwithstandng. Payee is not obligated to contact the payer at all.

Bottom Line (talk|edits) said:

20 February 2008
Payer will eventually get a mismatch letter from the IRS. Would be NICE for payee to get this straightened out now.

TxSrv (talk|edits) said:

20 February 2008
I still don't understand why the payee has to get involved.
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