Merchant service provider has the wrong EIN in my 1099-K. I asked them to correct it. They said I have to correct it. Does anyone know hot to correct it?
Thank you for any and all help!
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@amac_red77 they should fix it but, IRS knows they often don't so report it correctly on your return as if it had your correct information. This is direct from the IRS:
Some taxpayers may have incorrectly received a Form 1099-K, such as for the sale of personal items. In other cases, the form may have been issued in error – such as for transactions between friends and family, or expense sharing.
If this happens, or if the information on the form is wrong, contact the issuer of the Form 1099-K immediately. The issuer's name appears in the upper left corner on the form along with their phone number. Taxpayers should keep a copy of all correspondence with the issuer for their records.
If taxpayers can't get a corrected Form 1099-K, report the information on Schedule 1 (Form 1040), Additional Income and Adjustments to IncomePDF, as follows:
The net effect of these two adjustments on adjusted gross income would be $0.
I opted for just putting the K-1 as is. I switched to another merchant service company and updated my records with them. I kept my mail with the old one asking them to update the EIN just to show I tried.
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