IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

File a corrected 1099-MISC or a new one?

February 13, 2023
February 13, 2023

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Q. In 2021, we had a vendor who participated in a survivor benefit program that we offer. If an employee dies, their spouse can apply for the benefit program, in which a standard benefit amount would be given to the widow(er). We would also issue a gross up check to cover the taxes for that benefit amount. which exceeds the $600 threshold we have to report on. The vendor did not provide us with a W-9 before we filed their 1099, so we were unable to key the gross up check and therefore only…

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