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.

Handling a request for a prior year 1099 correction

May 17, 2023
May 17, 2023


Q. I have a vendor that reached out in Dec 2022 to request a TIN change from SSN to EIN. We completed the new vendor setup in Dec, both with similar vendor names, just a change in TIN. They are now requesting that the 2022 1099 be corrected to their EIN, instead of SSN. Should we make the correction? A. (Answered by IOFM's third-party tax experts) Filing the Form 1099 with the vendor's SSN was not an error if the status of the vendor remained the same (an individual, sole proprietor or…

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