What to do about small amounts missed in 1099 reporting?
October 30, 2018
Q. I have just realized (in late May) that I missed reporting 1099 payments ... these were small amounts paid to multiple companies. Would I want to send 1099 corrections and amended 1099s for last year, or just roll that into this year's reporting? Is there a threshold for this type of situation? We missed around $1,000 among 30 companies.
You cannot roll into tax reporting for the current tax year payments you made in in the previous one. For 1099s filed after 12/31/16, if the dollar…
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