K1 Incorrect Name

[wandress]

I just filed a tax return for my LLC and submitted K1s to the members. One of the members noticed their name was slightly misspelled, but their tax ID number is correct. Do I need to file an amended tax return for the misspelled name, or can it be corrected on next year's  tax return?

[tagteam · Accepted solution]

How badly was the name misspelled?

You can file an amended return with the correct name, but the IRS typically matches the social security number withe first four letters of the taxpayer's last name (or first three if the last name only has three letters).