quiverfull7
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quiverfull7 said:There is an error on my 1099. I call HO and ask for the correction right? And will they send me a new one or will I just download it ... and if anyone has done this.. .how long did it take to make the correction?
quiverfull7 said:Okay... I got a guy with an accent but he was very kind and quite helpful. He said he was logging in LOTS of complaints and then read me an email that we should all be receiving shortly about the errors and corrections... He said ALWAYS call us! Always! You can find good help sometimes!
quiverfull7 said:I never got the email that the guy told me we were all being sent. Did anyone else?
A 1099 form is a tax form used to report income earned from sources other than an employer, such as freelance work or investment income. It is important because it must be filed with the IRS and can affect your tax liability.
If you have made an error on a 1099 form, you will need to file a corrected form, known as a 1099-COR. This form can be filed electronically or by mail, and you will need to provide the correct information as well as an explanation for the correction.
The timeframe for correcting errors on a 1099 form depends on several factors, such as how the form was originally filed and the method used to file the corrected form. Generally, it can take a few weeks to several months for the correction to be processed by the IRS.
If you do not correct errors on a 1099 form, you may face penalties from the IRS for filing incorrect information. This can result in additional taxes owed, interest, and potential legal action. It is important to correct any errors as soon as possible.
Yes, you can amend a 1099 form after the filing deadline. However, it is best to do so as soon as you notice the error to avoid potential penalties. If the deadline has passed, you may also need to file a request for an extension of time to file the corrected form.