Submitting a Corrected 1099-NEC

Submitting a Corrected 1099-NEC Form

Step by step instructions on how to submit a corrected 1099-NEC

1. Edit the voucher type on the original vouchers where the individual was paid so that they are a different type than the 1099 vouchers. Go to ACP > Vouchers/ Credit Memos > Voucher Maintenance > Edit a Voucher. Pull up the voucher(s). On the voucher amount screen, there is a button at the bottom to <Edit Voucher Type>

2. Reprint the 1099 for the individual, limiting it to only that individual’s name ID. Go to ACP > Account Processing > Print 1099 Forms. Remove the dollar minimum on the second screen so it will print the zero-dollar value 1099.

3. Mark the box on the printed 1099 for “Corrected” with an X in black pen

4. Recreate the electronic file:

a. In ACP, go to Account Processing > 1099 Electronic Reporting > Fill in the information accordingly > Key in parameters for the type of forms you are reporting. Use the same parameters as when the original file was created.

b. You will create the electronic file with the same parameters as when you created the original file, the only difference being the C Type of File Indicator for “Correction” on the second screen. The corrected file looks at the data from the original file compared to the new file it is creating to come up with a file that has the corrections.

c. The system will verify the information entered. Click Ok

d. A print screen comes up. The system prints a report for the information included in the file. Choose Printer 5 to send the report to the Report Spool.

e. The system will create the file IRSTAX in the File Location specified previously. It is ready to be uploaded to the IRS as a correction.

IMPORTANT: Ensure you are uploading the IRSTAX file created on your current day when the correction was made, NOT the original file.