PeaNut 227,346 October 2005 Posts: 303 Layouts: 0 Loc: So Cal
Posted: 2/2/2013 3:43:09 PM
We sent a client a 1099 about 3 weeks ago for misc income. While going
through paperwork I just realized the amount was incorrect. We sent it for $16,500 and it should have been $16,200. Now that the January 31st deadline has passed will we have to pay a penalty for sending a corrected 1099? The client has never called to let us know it's wrong but I'm glad I caught it now rather than after taxes had been done. TIA!