Late received 1099-NEC form? Incorrect TIN?

Ttom

I recently filed my taxes and they were accepted. However, I just received a very late 1099-NEC for contract work I reported as self employment on my tax forms. Do I need to do something to correct this? Nothing was withheld so it is the same dollar amount as I self reported and less than $1000. Also, the payer got my TIN wrong by one digit on the 1099-NEC. Advice?

MatthewD

Hi Ttom,

Good news — you don't need to amend your return. Since you already correctly reported that self-employment income and the dollar amount on the 1099-NEC matches what you filed, your tax liability hasn't changed. No amendment is needed.

The incorrect TIN on the 1099-NEC is the payer's error to fix, not yours. Because the TIN doesn't match your actual taxpayer ID, the IRS may have trouble matching that 1099 to your return, which could potentially trigger a notice from the IRS down the road. To get ahead of that, I'd recommend reaching out to the payer and asking them to file a corrected 1099-NEC with your correct TIN. They're responsible for submitting the correction to the IRS.

In the meantime, keep a copy of your accepted return and any documentation showing you reported that income correctly. If you do receive an IRS notice, that paper trail will make it easy to resolve.