WS: 1099: Filing Two Transaction Correction Return to the IRS
Last updated on MARCH 17, 2017
Applies to:JD Edwards World General Ledger - Version A9.4 and later
Information in this document applies to any platform.
If an original 1099 filing is submitted to the IRS and later it is discovered that the Tax recipient's TIN (TaxID) is incorrect, the IRS requires the preparer to follow the required Pub. 1220 Two Transaction Correction method. The present 1099 process does not provide a Two Transaction Correction method. Need to have in place Pub. 1220 Two Transaction Correction method for the upcoming tax season.
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