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armani19
Level 1

1099 business name doesn't have "Corp" listed

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.
 
Thank you!
2 Comments
Rustler
Level 15

1099 business name doesn't have "Corp" listed

QB does not do changes to 1099's, only the original copy.

 

If the company name is missing "Corp" then check your QBO Company name settings in company settings.

 

You do not need to issue a corrected 1099 for that mistake, but as this article says you should send the IRS a letter as shown.

https://www.patriotsoftware.com/blog/accounting/how-do-i-issue-a-corrected-form-1099/

Jen_D
Moderator

1099 business name doesn't have "Corp" listed

Thanks for visiting us today, @armani19,

 

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.

 

You can also find this information in page 9 of the General Instructions for Certain Information Returns. As always, it is best to contact IRS or a tax professional for tax filing advice.

 

Please post here if you have any more questions about the payroll forms in QuickBooks. Have a good one!

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