Episode 15: Fixing 1099 Errors & Filing Corrections

You filed your 1099s.

Now you found a mistake.

What do you do?

In this episode of Information Return Intelligence, I break down:

• ✅ Why we file 1099s in the first place (hint: it’s about IRS matching programs and tax compliance)
• ✅ How the IRS actually uses the data you submit
• ✅ What kinds of errors matter (and which ones don’t)
• ✅ When you are required to file a correction
• ✅ The key August 1 deadline that can help you avoid penalties
• ✅ The de minimis dollar error rule ($100 / $25 for backup withholding)
• ✅ Why first name and address errors generally don’t trigger penalties

Remember: the IRS computer matching system primarily keys off the last name/business name and TIN, along with the dollar amount 

Information Return Intelligence…. If those are wrong, you may have a problem. If they’re not? You may not need to panic.

If you discover an error, fix it. In most cases, correcting by August 1 keeps you penalty-free — especially if you’re correcting 10 or fewer forms.

This episode is practical, tactical, and designed for AP professionals, controllers, and anyone living in the information return world.

🎧 Listen weekly for fast, focused updates on:

• 1099-NEC & 1099-MISC
• 1042-S
• Backup withholding
• CP2100 letters & B-Notices
• IRS matching programs
• And everything else in the information return ecosystem

If you work with 1099s, this podcast is for you.

— Jason Dinesen