I need to amend a 1099-int to a company we paid. Once the payee received the form, they told me I had to break the amount into 2 different accounts. The IRS accepted it. I see online there is a 1096. Is that what I use and how?
You need to create a new Form 1099-INT showing the correct amounts and information. You will check the corrected box on the top of the form. Then, use the original form 1096 as a guide to completing a new one. You then mail the two forms to the address listed on the original form 1096. You can use this link and look on section H of the General Instructions for certain information returns to learn more about it: Information on certain information returns
I'm sorry - I am still lost. I created a new 1099-INT. I checked the corrected box on the form. I used the same payee and added a new form. How do I get the original 1096 form? I followed links. Am I supposed to use the form that is red? I am so full of anxiety over this. I'm not an accountant.
B. Form 1096
Prepare a new transmittal Form 1096. Where do I find the new form?
Enter one of the following phrases in the bottom margin of the form. What's the bottom margin?
Filed To Correct TIN.
Filed To Correct Name.
Filed To Correct Return. this is the correct one to enter
Provide all requested information on the form as it applies to the returns prepared in Steps 1 and 2.
File Form 1096 and Copy A of the return with the appropriate IRS Submission Processing Center. I submit this to the IRS and send the other copies to the payee?
Do not include a copy of the original return that was filed incorrectly. Got it
this is the same response I got last time. please help me with this. I am very intimidated by it. i'm not an accountant and don't want to get any of this wrong.
Form 1096 is used to transmit a Form 1099 to the IRS.
Click here for Form 1096 and instructions.
You will prepare the corrected Form 1099-INT, by entering the correct amounts on the Form 1099-INT and marking it as a corrected form. (See Below).
Form 1096
Click here for Form 1099-INT and instructions.
The red copy goes to the IRS.
Submit the corrected 1099 form to the recipient and prepare the red Copy A to send to the IRS with the Form 1096 transmittal if paper filing.
If you need help preparing your corrected paper copy, you can contact the IRS at (800) 829-3676.
If you are electronically filing your forms, you do not need to send in a Form 1096,
Do not mail in the originally filed forms1099-INT with the corrected ones to the IRS.
does this mean that if I am able to electronically send the 1099-INT that I don't need to do the 1096 as well?