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Check that was never sent reported on a 1099
March 1, 2022
Q. A check paid on 12/28/21 was reported on a 1099. The check was cancelled in January 2022 after our tax year 2021 filing was complete. The payment requestor (payer) never delivered the check to the payee. Can you confirm that we are required to file a correction?
A.
(Answered by Sovos, a 3rd party software, services and education provider offering assistance in tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, Canada, Quebec, Puerto Rico and State…
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