Tax Year 2016: My business name was changed Nov, 2016 (w/ same EIN), but I hired a contractor Jan~June, 2016. Should I issue 1099-MISC with the old or new business name?

[KarenL2]

Since the EIN is the same, you will issue the 1099-MISC with the correct business name that was in effect on December 31st.  Just send a letter to the contractor stating that the name of the business changed so they are aware.

[dicofrigo]

Thank you so much!!

[KarenL2]

My pleasure!

[JBlilac]

What if we're talking about a client we've worked with before (i.e. they already filled out a 1099 under old name). Do we need to have them fill out a NEW 1099 with our new name even though the EIN hasnt changed. 

[Critter]

If you are talking about a 1099 that you received then the old name is fine since the EIN did not change.

[Horcrux1704]

One of my clients issued two 1099s to one of its employees. The client company underwent a name change in 2018. It was just prior to the name change that the employee left the company. However, the previous accountant had filed 1099 with the old company name which was correct so, I filed a $0 1099 with the new name. But it has been brought to notice that the employee received notice from the IRS stating that the employee received more payment than the reported. So, I would like to understand how to proceed with this. Do I need to generate a $0 1099, and email it to the employee to mail it over to the IRS, along with form 1096 executed? Or do we need to fill out the red form but I'm not sure that's the case. Please advise.

[WendyN2]

Even though there was a name change, if the Company kept the same Federal ID number, the IRS system might be confusing the $0 dollar amount entered. Generally, you would not enter a 1099 for a zero dollar amount, nor would the company include the zero dollar 1099 on their 1096. Only a 1099 with an amount should be listed. 

[Horcrux1704]

Is there any solution to help resolve this? 

[ThomasM125]

I believe what you mean to say is that a 1099 form was issued for the correct amount and then another was issued under the same federal ID number reporting "0" paid. If so, then the correct amount of pay was reported to the worker and no additional action is required on your part. The worker will have to correspond with the IRS to determine what income was reported incorrectly and take action to correct the reporting form that he disagrees with.