Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, And W-2g - General Instructions For Certain Information Returns - 2018 Page 10

ADVERTISEMENT

3. Decimal point to show dollars and cents omitted.
section 301.6724-1 (relating to information return
For example, 1230.00 is correct, not 1230.
penalties) does not require you to file corrected returns for
missing or incorrect TINs if you meet the
4. Two or more types of returns submitted with one
reasonable-cause criteria. You are merely required to
Form 1096 (for example, Forms 1099-INT and 1099-MISC
include the correct TIN on the next original return you are
with one Form 1096). You must submit a separate Form
required to file.
1096 with each type of return.
However, even if you meet the reasonable-cause criteria,
H. Corrected Returns on Paper Forms
the IRS encourages you to file corrections for incorrect or
missing TINs so that the IRS can update the payees'
To file corrections for electronically filed forms,
records.
see
part F
and Pub. 1220.
!
I. Void Returns
CAUTION
If you filed a return with the IRS and later discover you
made an error on it, you must:
An “X” in the “VOID” box at the top of the form will not
Correct it as soon as possible and file Copy A and Form
correct a previously filed return. See
part H
for instructions
1096 with your Internal Revenue Service Center (see
part
for making corrections.
D), and
VOID box. If a completed or partially completed Form
Furnish statements to recipients showing the
1097, 1098, 1099, 3921, 3922, or 5498 is incorrect and
correction.
you want to void it before submission to the IRS, enter an
When making a correction, complete all information
“X” in the “VOID” box at the top of the form. For example, if
(see
Filing corrected returns on paper
forms, later).
you make an error while typing or printing a form, you
Do not cut or separate forms that are two or three to a
should void it. The return will then be disregarded during
page. Submit the entire page even if only one of the forms
processing by the IRS. Go to the next form on the page, or
on the page is completed.
to another page, and enter the correct information; but do
Do not staple the forms to Form 1096.
not mark the “CORRECTED” box. Do not cut or separate
Do not send corrected returns to the IRS if you are
the forms that are two or three to a page. Submit the entire
correcting state or local information only. Contact the state
page even if only one of the forms on the page is a good
or local tax department for help with this type of
return.
correction.
To correct payer information, see
Reporting incorrect
payer name and/or
TIN, earlier.
Form 1096. Use a separate Form 1096 for each type of
return you are correcting. For the same type of return, you
may use one Form 1096 for both originals and
corrections. You do not need to correct a previously filed
Form 1096.
CORRECTED checkbox. Enter an “X” in the
“CORRECTED” checkbox only when correcting a form
previously filed with the IRS or furnished to the recipient.
Certain errors require two returns to make the correction.
See
Filing corrected returns on paper forms
later to
determine when to mark the “CORRECTED” checkbox.
Account number. If the account number was provided
on the original return, the same account number must be
included on both the original and corrected returns to
properly identify and process the correction. If the account
number was not provided on the original return, do not
include it on the corrected return. See
part
L.
Recipient's statement. You may enter a date next to the
“CORRECTED” checkbox. This will help the recipient in
the case of multiple corrections.
Filing corrected returns on paper forms. The
error
charts, later, give step-by-step instructions for filing
corrected returns for the most frequently made errors.
They are grouped under Error Type 1 or 2. Correction of
errors may require the submission of more than one
return. Be sure to read and follow the steps given.
If you fail to file correct information returns or
furnish a correct payee statement, you may be
!
subject to a penalty. See
part O
. Regulations
CAUTION
-10-
Gen. Instr. for Certain Info. Returns (2018)

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial