EAP WTHD23: AP_APY1099 Process Unable To Report More Than 9,999,999,999.99 In The IRS File "B" RECORD (Doc ID 2992501.1)

Last updated on DECEMBER 19, 2023

Applies to:

Symptoms

AP_APY1099 process unable to report more than 9,999,999,999.99 in the IRS file "B".

According to IRS Publication 1220, if payment amounts exceed the 12 field positions allotted, a separate Payee “B” Record must be submitted for the remainder. This separate "B" record is not generated in the file. Information from Publication 1220 - Caution: If payment amounts exceed the 12 field positions allotted, a separate Payee “B” Record must be submitted for the remainder. The files cannot be exactly the same to avoid duplicate filing discrepancies. For example: For Form 1099-K reporting 12,000,000,000.00, the first “B” record would show 8,000,000,000.00 and the second “B” record would show 4,000,000,000.00. One substitute Form 1099-K may be sent to the recipient aggregating the multiple Forms 1099-K.


STEPS:

1. Create a voucher for a withholding supplier for the amt over $ 12,000,000,000.00 for withholding type of 1099M / Class 01:

Accounts Payable > Vouchers > Add/Update > Regular Entry

2. Pay Voucher: Accounts Payable > Payments > Paycycle Processing > Pay Selection Criteria / Pay Cycle Manager

3. Post Payment: Accounts Payable > Batch Processes > Payment > Payment Posting

4. Post Withholding: Suppliers > 1099/Global Withholding > Maintain >Post Withholdings

5. 1099 Job: Suppliers > 1099/Global Withholding > 1099 Reports > Withhold 1099 Report Job

6. IRS file is generated and the "B" record for the supplier in question is reporting an amount = 9,999,999,999.99

Changes

Cause

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.