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Credit Refund 1099 Requirements
December 11, 2025
Q. I have a vendor setup in our system, previous W-9 was a C Corp. We recently received updated W-9, the legal name, and tax classification changed to LLC- P, but the EIN is the same. Should this be treated as a new vendor?
A.
(Answered by IOFM's third-party tax expert)
This would not be 1099-C because no debt was "canceled." However, Form 1099-MISC box 3 would be appropriate in this situation. To your second question: Yes. The IRS has said things such as rewards credits (such as points and…
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