WS: 1099: Filing Two Transaction Correction Return to the IRS (Doc ID 2245342.1)

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.

Symptoms

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.

Cause

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