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Novation Mid-Year: Should You Correct the Old TIN's 1099 or Report Each Separately?
February 23, 2026
Q. A payee underwent a novation, resulting in both a name and a Taxpayer Identification Number (TIN) change. Old Entity: "Company A dba Name" with an associated TIN. New Entity: "Company A LLC" with a new, distinct TIN. Throughout the reporting period, payments were made to separate profiles established under each TIN. Consequently, 1099 forms were filed and sent, with one 1099 issued for each TIN. Given this situation, what is the correct 1099 reporting procedure? Should we issue a corrected…
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