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summitupllc
Level 2

1099 corrections for 2024

Any deadline posted for when we can make amendments to 1099s?  All I can find is some time in February

7 Comments 7
SashaMC
Moderator

1099 corrections for 2024

Hey Summitupllc,

 

Thank you for reaching out to the QuickBooks Community. I will be happy to help. This article lists all the deadlines, requirements, and penalties. I encourage you to go through the article. 

 

 

Please let me know if you have further questions or concerns. We will be here to assist. Take care. 

summitupllc
Level 2

1099 corrections for 2024

I would like to know when we will be able to make corrections in Quickbooks Online for 1099's.  Corrections!  Not the deadlines for filing.

FaithA
QuickBooks Team

1099 corrections for 2024

I appreciate you coming back, summitupllc. You’re right, the corrections for 1099s will be available around February. Allow me to provide a more detailed overview to help clarify.

 

1099 Corrections for the 2024 filing year will be available by mid-February 2025. We will update you with the specific date as soon as it is confirmed. To stay up-to-date, keep an eye on the Corrections Banner at the top of your Tax Center page in QuickBooks Online. The banner will notify you precisely when you can start making corrections. Currently, the message on the banner, "Corrections will be available later in February," means the feature hasn’t launched yet. It will be updated or removed once the corrections are live. Additionally, make sure to check the Notifications area for any important updates.

 

Steps to Locate the Corrections Banner:

 

  1. Navigate to the Taxes menu on the left-hand side menu.
  2. Click on Tax Center.
  3. Look for the banner at the top of the page for updates on when corrections are available.

 

 

For further reading, you'll find this article helpful, as it contains Frequently Asked Questions about creating and filing: 1099s using QuickBooks Online.

 

For future reference, this guide will help you manage your returns: IRS Online Ordering for Information Returns and Employer Returns.

 

We’re here to ensure you have all the information you need. If you have more questions or need further assistance, feel free to continue the discussion right here on the thread. The community is always ready to help and support your tax journey. 

JayCulberth
New Member

1099 corrections for 2024

Hi, thanks for the info.  Why is it taking so long at this point to have that feature activated?

Jovelyn_M
QuickBooks Team

1099 corrections for 2024

Hello there, Jay.

 

The strategic pause in activating 1099 corrections within QuickBooks Online was carefully executed to ensure full compliance with current IRS regulatory standards. Allow me to give you further details.

 

In line with this, any corrections to 1099 forms must be filed using the same procedures as the original forms. This process requires careful attention to detail to make sure that all information is accurately updated and complying with applicable tax laws.

 

QuickBooks Online had to implement additional checks and validation steps in its system, which caused an adjustment period in activating the 1099 corrections to ensure everything was handled correctly.

 

Moreover, for timely updates, I recommend contacting our live support team. They are always available to assist you and can provide up-to-date information and guidance tailored to your specific situation.

 

Furthermore, I'm adding this resource for future reference for you to know how to prepare and file your Federal and state 1099s with QuickBooks Online: Create and file 1099s with QuickBooks Online.

 

We are fully prepared to assist you with your 1099 correction. For any questions or further assistance, do not hesitate to visit this forum. We appreciate your interest and are eager to make your QuickBooks experience even better.

JCO16
Level 1

1099 corrections for 2024

QBO originally said corrections available 2/3 and now it just says "later in February". So users are supposed to just check daily? Why is this so vague?

Dandie_A
QuickBooks Team

1099 corrections for 2024

We recommend keeping an eye on the Corrections Banner in your Tax Center on QuickBooks Online for the most up-to-date information, JCO16. For the latest information, please monitor the Corrections Banner at the top of the Tax Center page in QuickBooks Online. This will give you information about when you can begin making changes. I'll provide below instructions on how to locate the Corrections Banner.

 

Here's how:

 

  1. Go to Taxes.
  2. Select Tax Center.
  3. Please check on the top banner of the page for notifications about when corrections become available.

 

The update to later in February for the availability of the corrections feature reflects the importance of ensuring that the feature is both compliant with all regulations and optimally functional before its release. 

 

Additionally, we're planning to launch the 1099 Correction workflow in mid-February in QBO. It's important that corrections are handled in the same manner as the original entries. Please verify that all contractor information and payments are correctly updated in QuickBooks beforehand. It's crucial to note that only IRS "Accepted" forms can be corrected, and all corrections need to be completed within the three-year IRS deadline from the original e-filing date.

 

For detailed instructions on how to adjust 1099 forms in QuickBooks, consider referencing the article: Correct or change 1099s in QuickBooks.

 

To print your 1099 forms directly from QuickBooks Online, you can also follow the guidelines provided in this article: Print 1099 forms.

 

Our goal is to ensure you are well-informed about 1099 corrections and have all the essential details you need. If you have any more questions or require additional help, our support thread is available 24/7 to assist you. Please take care and don’t hesitate to reach out for further assistance.

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