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2020-USA-2020
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1099-Misc Replacement (IRS Transcript) Doesn't Include Payer Full FIN

I lost a 1099-misc that I received, and after downloading my transcript from the IRS' website, the FIN of the Payer is partially omitted with 5 "x" and only shows the last four digits. The address of the payer only includes their partial address. Do I input "XXXXX1111" as the FIN of the payer, the partial address that's available, and "XXXXX" as the zip code? Please advise. Thank you. 

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2 Replies

1099-Misc Replacement (IRS Transcript) Doesn't Include Payer Full FIN

Thar is right. For security reasons the IRS no longer has the full SSN or EIN anymore in transcripts - that started 2 years ago.

 

https://www.irs.gov/individuals/about-the-new-tax-transcript-faqs

 

About the New Tax Transcript and the Customer File Number

A new transcript format is now in place to better protect your information from identity theft. This new transcript partially masks the personally identifiable information of everyone listed on the tax return. All financial entries will remain fully visible to assist with tax preparation, tax representation and income verification.

The IRS is taking this action to better protect taxpayer data. Because of data thefts outside the tax system, cybercriminals often attempt to impersonate taxpayers and tax professionals. Thieves attempt to gain access to transcript data, which can help them file fraudulent tax returns or steal additional data of other individuals listed on the transcript.

Here’s what is visible on the new tax transcript:

  • Last four digits of any SSN listed on the transcript: XXX-XX-1234
  • Last four digits of any EIN listed on the transcript:  XX-XXX1234
  • Last four digits of any account or telephone number
  • First four characters of the last name for any individual (first three characters if the last name has only four letters)
  • First four characters of a business name
  • First six characters of the street address, including spaces
  • All money amounts, including wage and income, balance due, interest and penalties

If an unmasked Wage & Income transcript is necessary for tax return preparation and electronic filing, a tax professional may contact the Practitioner Priority Service line. An unmasked Wage and Income Transcript will fully display employers’ names, addresses and Employer Identification Numbers (EINs) needed for tax software preparation and for electronic filing. If the tax professional has proper taxpayer authorization, but it's not on file, they  can  fax the authorization to the IRS assistor and an unmasked Wage and Income transcript will be sent to the practitioner’s Secure Object Repository (SOR), available through e-Services. Tax professionals must have an e-Services account and pass Secure Access authentication to use the SOR option.

PLEASE NOTE: The requested transcript will remain in the SOR for a limited time. The transcript automatically will  be removed from the SOR after three days once you view it or after 30 days if it is not viewed.  Print or save the transcript if you want to keep a copy.

The unmasked Wage and Income Transcript also is available to those tax professionals with e-Services accounts, approved authorization and access to the Transcript Delivery Service. Reminder: Circular 230 practitioners, i.e. attorneys, Certified Public Accountants and Enrolled Agents, can create an e-Services account and obtain TDS access. Unenrolled practitioners must either be responsible parties or delegates users on the E-File application.

 

Alternatively, taxpayers or other third parties who require an unmasked transcript for tax return preparation or filing may contact the IRS, present proper authentication to prove their identities and an unmasked transcript will be mailed to the taxpayer’s address of record.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

1099-Misc Replacement (IRS Transcript) Doesn't Include Payer Full FIN

You don't need the actual 1099Misc.  You can report your total income as Cash or General.  Only the total goes to schedule C line 1.

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