DMarkM1
Expert Alumni

Get your taxes done using TurboTax

You are under no obligation to file an amended return.  The IRS will receive the corrected 1099 and apply it to your return.  If their calculations result in an increase in tax owed they will send you a letter with instructions.  Interest and penalties for late payment of any resulting taxes accrues from the original due date.  

 

You may or may not see a refund for a correction that decreased your taxes.    

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