In 2005 and 2006 I worked as ceo for a start up company as an independant contractor. At the time, my consulting company received fees and stock (not options) which vested when I departed. few weeks ago I received a draft 1099M for millions of dollars against an apparent 2007 stock valuation. when I contacted the company, the company agreed to send me a 'void/zero' 1099m, agreeing that it was an error since the stock was issued to a company and not me personally. howeber. the 1099m was filed with the irs.
question: if the company files now the corrected 1099m (zero) what is the probability for an irs audit? what do I need to do regarding my 2007 tax return?
Thanks