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Old 08-19-2009, 02:48 PM
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How to correct a misfiled 1099/W-2

In 2007 we filed a 1099 for a person and have now determined we should have filed a W-2. Do I send a regular 2007 W-2 or do I file a 2007 W-2C along with the W-3C? Same question for the 1099. Do I send a corrected 1099 showing all zeros along with the Amended 1096?

I also will be filing corrected 941's.

I read previous posts regarding this issue but did not feel they gave clear direction when the error was from a prior year.

Thank you for any advice.



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Old 08-20-2009, 11:20 AM
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Here is what I would do regarding your personal situation;

1. Re: Amended W-2:
Yes, you should send a regular 2007 W-2c along with the W-3C. There would be some penalties and interest associated with the late filing of the payroll taxes that you would be liable. I think you may be subject to at least a 10% underpayment penalty and interest on the liability would be around 6-8% annually..You should be aware of these additional liabilities as well.

2. Re: Amended 1099-Misc
All you have to do is to mail Form 1096-Annual Transmittal Letter to the appropriate IRS Address as shown on Form 1096, (the mailing address is based upon your State of business).

When you mail Form 1096, include the amended or corrected 1099-Misc and check mark the Box that indicates "Corrected". This is shown on the upper side of the Form 1099-Misc.

The corrected 1099-Misc is all you have to include with Form 1096 and since it includes the check mark X against the "Corrected" box, this will tell the IRS that you are including an Amended 1099-Misc Form.

There is no check mark required on 1099-Misc Form.

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Old 08-20-2009, 12:18 PM
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Follow up to reply

To clarify. Even though I never sent an Original 2007 W-2, I still need to use a W-2c.

On the 1099. I understand I send the 1096-Annual Transmittal letter. The 1099-Misc I send along with it will be X'd Corrected and basically I will show zeros in all the boxes. Does the 1099-Misc have to be 2007 form/


Thanks again for the help

Quote:
Originally Posted by TaxGuru View Post
Here is what I would do regarding your personal situation;

1. Re: Amended W-2:
Yes, you should send a regular 2007 W-2c along with the W-3C. There would be some penalties and interest associated with the late filing of the payroll taxes that you would be liable. I think you may be subject to at least a 10% underpayment penalty and interest on the liability would be around 6-8% annually..You should be aware of these additional liabilities as well.

2. Re: Amended 1099-Misc
All you have to do is to mail Form 1096-Annual Transmittal Letter to the appropriate IRS Address as shown on Form 1096, (the mailing address is based upon your State of business).

When you mail Form 1096, include the amended or corrected 1099-Misc and check mark the Box that indicates "Corrected". This is shown on the upper side of the Form 1099-Misc.

The corrected 1099-Misc is all you have to include with Form 1096 and since it includes the check mark X against the "Corrected" box, this will tell the IRS that you are including an Amended 1099-Misc Form.

There is no check mark required on 1099-Misc Form.



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