Hi my business name doesn't have "Corp" listed in the 1099 that I issued to my contractors. For instance, it just says Armani instead of Armani "Corp". Do I need to issue a correction? That is the only thing that is missing. I created it from QBO, if a correction is needed, can it be done in QBO?
I also got a confirmation that the IRS accepted this e-file.
The IRS checks the vendor name and Tax ID with their records. If the two information do not match, it might be flagged as incorrect. If you reported an incomplete vendor name on the 1099 report, you must write a letter to the IRS. You may refer to Rustler's link on what information you should send to the agency.