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Old 02-04-2009, 07:09 PM
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Missed Vendors on 1099

Some vendors weren't marked as Eligible for 1099 in Quickbooks, so I did the 1099s for last year, before 2 Feb and then found out after 2 Feb that we had missed two vendors.

Do I just do a new 1096 including the vendors I missed as well as the vendors I already filed?

And do I include the 1099s that I already sent to the IRS, or do I only include the ones which I didn't already send?

Any help would be appreciated.

Thanks.



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Old 02-04-2009, 10:08 PM
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It is perfectly okay to make a mistake, many professionals make this mistake, and it is very easy to rectify.

Just simply refile the Annual Transmittal Letter Form 1096 and check mark the box that states "AMENDED" and simply mail the form again, but this time please include the missing 1099-Misc along with all the previously submitted 1099-Misc Red copies again. Please make sure that you include amounts from the newly submitted 1099-Misc with 1096 Amounts that were previously submitted.

You should not encounter any penalties or interest by promptly filing an amended 1096 Form.

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Old 02-12-2009, 03:00 PM
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Quote:
Originally Posted by TaxGuru View Post
It is perfectly okay to make a mistake, many professionals make this mistake, and it is very easy to rectify.

Just simply refile the Annual Transmittal Letter Form 1096 and check mark the box that states "AMENDED" and simply mail the form again, but this time please include the missing 1099-Misc along with all the previously submitted 1099-Misc Red copies again. Please make sure that you include amounts from the newly submitted 1099-Misc with 1096 Amounts that were previously submitted.

You should not encounter any penalties or interest by promptly filing an amended 1096 Form.
I have the same situation this year 2008 and I don't see a box to check that states "Amended". Also, you are saying that I have to preprint all previously printed 1099s along with the missed 1099s and submit them with the correct 1096?



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Old 02-12-2009, 04:56 PM
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You should send out a new Form 1096 Misc but, this time include all the previously filed 1099-Misc forms along with the missed 1099-Misc forms (you may want to check mark the box "amended").

Also, you might want to indicate "AMENDED" on the top of Form 1096, just so that the IRS knows that the form has been amended.

This is not a problem and the IRS will not fine you any penalties or assess any interest on this error.

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