De minimis for 1099 filing errors?

October 7, 2019

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Q. We received a penalty from the IRS for due to incorrect TIN mismatch, etc. Is there a volume/number threshold for incorrect TINs below which the IRS will not send you a Notice 972CG or penalize you? I looked at 2108-A and section 6721 and could only find the penalties. Any guidance is appreciated. A. (Answered by COKALA Tax Information Reporting Solutions, LLC, a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9,…

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