Welcome Guest. Register Now!  



Find a tax professional cpa near you

View Single Post
  #2 (permalink)  
Old 08-20-2009, 11:20 AM
TaxGuru's Avatar
TaxGuru TaxGuru is offline
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 1,864
Blog Entries: 3
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.
__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.
Reply With Quote
 
Follow us on Twitter
» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 
Forum for CPAs
 
Financial Planning