Do I need to do anything if I get a corrected 1099-MISC to replace 1099-NEC?

[7murrills]

Apparently this is due to an IRS change, and I need to know if I need to amend my filing.

[ColeenD3]

Can you clarify what the income was that was reported? You originally got the correct form, a 1099-NEC, but the issuer replaced it with a 1099-MISC?

[fanfare]

On form 1099-MISC, what box is the money shown in?

[7murrills]

Yes, I originally received 1099-NEC with a dollar amount in box 1. I was later advised by the Payer that the IRS has changed it's forms and I received a corrected 1099-MISC with 0.00 in Box 3. By then I had already filed and paid.

[7murrills]

On the 1099-MISC Box 3 has 0.00. On the original 1099-NEC the dollar amount showing what I was paid is entered in Box 1.

[LinaJ2020]

As ColeenD3 has mentioned above, the 1099-NEC is the corrected one.  Beginning with the 2020 tax year, the IRS  required business taxpayers to report nonemployee compensation on the new Form 1099-NEC instead of on Form 1099-MISC. Businesses needs to use this form if they made payments totaling $600 or more to a nonemployee, such as an independent contractor.  This was done to help clarify the separate filing deadlines on Form 1099-MISC and the new 1099-NEC form which was used starting with the 2020 tax year.

So the 1099-MISC reports zero in income?  I would suggest you to contact your employer for verification.  Did you receive any income or not?  Which form is correct?  

@7murrills