thread Need to correct a 2020 1099 in Archived Discussions (Read Only)

How can I correct a 1099-K form for the current tax year (2017)?

linda2 — Mon, 16 Mar 2020 15:41:31 GMT

We need to get a corrected 1099 K form, as the details don't reflect the correct EIN. What steps do we take?

How can I correct a 1099-K form for the current year?

Sean — Fri, 10 Feb 2017 18:59:10 GMT

Happy to help provide some guidance here. To receive an updated 1099-K form from, you'll need to follow these steps:

1. Update your business taxpayer information on your Square Dashboard. You'll need to ensure that the system accepts the tax identification number and name combination.

2. After editing your information and clicking Save, the 1099-K form should automatically update. You can confirm this by downloading the form available on that page. If you're getting an error message, please double check with your EIN assignment letter if you're not using your name and SSN.

Hope this helps!

Re: How can I correct a 1099-K form for the current tax year (2016)?

Drroftarcdt — Wed, 26 Jul 2017 19:15:54 GMT

I signed my small business up for square in 2015. I used my name and SSN. All the income for the business was deposited in the business bank account and our tax professional paid all the appropriate taxes then. I received a letter from the IRS saying square submitted $40,000 (credit cards that we processed) as my personal income in 2015, and that I now owe like 18,000 in back taxes. How should I fix this?

Re: How can I correct a 1099-K form for the current tax year (2016)?

VanKalkerFarms — Wed, 26 Jul 2017 19:16:06 GMT

Square can correct a 1099-K. Check out this post for more information. I'd assume then that you could submit that to the IRS, but you'll want to talk with your accountant on how to proceed there. https://www.sellercommunity.com/t5/Questions-How-To/How-can-I-correct-a-1099-K-form-for-a-previous-year-2015-or/m-p/30701#M15591

Re: How can I correct a 1099-K form for 2016?

ob1 — Wed, 30 Aug 2017 23:40:49 GMT

I just updated my EIN in my Square Account Settings and attempted to print a NEW 1099. It is still showing MY SSN. Can I get a new 1099 with accurate EIN?

Re: How can I correct a 1099-K form for 2016?

Tom — Thu, 31 Aug 2017 20:03:44 GMT

Hey @ob1, thanks for flagging this and sorry to hear about the confusion. We'll need to have a team member take a deeper dive into your account. Please get in touch with our Support Team and they'll make sure this gets sorted out.

Re: How can I correct a 1099-K form for the current year?

jhawk — Fri, 23 Feb 2018 22:46:48 GMT

How do I ensure that the system accepts the edit changes? I tried to correct the name and EIN, but it wouldn't accept the changes.

Re: How can I correct a 1099-K form for the current year?

puka — Sat, 24 Feb 2018 22:39:30 GMT

Hey @jhawk - I would follow Tom's advice above and reach out to the team so that they can take a closer look at your account for you. They'll be able to advise on any further troubleshooting steps.

Correcting tax id on previous 1099s

sayat — Sun, 29 Apr 2018 18:32:19 GMT

This reply created from merging an existing thread: "Correcting tax id on previous 1099s" The author has been notified via email.

My accountant pointed out that I have the wrong tax id on the square app. I recently changed it but I'd need to correct the tax id for tax year 2017. Would this automatically update the form and retrigger another submission to the IRS? Or is there a step I need to take?

Re: How can I correct a 1099-K form for the current tax year (2016)?

Liusshanghai — Tue, 30 Apr 2019 19:56:53 GMT

The same thing has happened to me. My accountant says I need a corrected 1099k in my name but square keeps telling me they are unable to provide a 1099k with a $0 balance. How did you solve this?

Re: How can I correct a 1099-K form for the current tax year (2016)?

Drroftarcdt — Tue, 30 Apr 2019 20:05:06 GMT

I never got a $0 1099k in my name. I sent a letter to the IRS stating I erroneously entered my personal information instead of the business information, and that I retroactively changed the settings in square. I had been emailing square support, and they replied that they would send the corrected information to the IRS with their next batch in 3-4 months. I attached a copy of that email to my IRS letter, and I think I also was able to get a copy of the corrected form attached. The IRS replied that the matter was settled and everything was fine.

Re: How can I correct a 1099-K form for the current tax year (2016)?

Liusshanghai — Tue, 30 Apr 2019 20:25:36 GMT

Did you get letters from the New York State Department of Taxiation & Finance? My letters are coming from them not the IRS

Re: How can I correct a 1099-K form for the current tax year (2016)?

kellyj — Thu, 02 May 2019 15:14:07 GMT

@Liusshanghai

I would suggest reaching out to a tax professional to advise you on the proper steps in correcting this with the state. 1099's are not able to be issued with a $0 balance, but a tax professional should be able to advise you what information to provide to clear this up.

You can read more about 1099k's, what qualifies an account for a 1099k, and other information here.

Re: How can I correct a 1099-K form for the current tax year (2016)?

Liusshanghai — Thu, 02 May 2019 15:24:45 GMT

My accountant is the one who told me to try and get the 1099k with a $0 balance since the mistake is made under my name and social the corrected one should be changed to $0. They have had the same case with other clients who have the same problem and their merchants are able to issue them the corrected 1099k in their name with a $0 balance but for some reason Squares system can’t generate it

Re: How can I correct a 1099-K form for the current tax year (2016)?

kellyj — Fri, 03 May 2019 17:21:42 GMT

@Liusshanghai

Frustrating for sure. I've created a case on your behalf and assigned it to a team member who has access to your account. They'll follow up with you via email so keep an eye out on your inbox!

Re: How can I correct a 1099-K form for the current tax year (2016)?

Liusshanghai — Sat, 18 May 2019 03:27:25 GMT

Still have yet to receive a reply and now I have the Department of Taxiation and Finance sending me a letter stating that they have filed a tax warrant against me. This is so fustrating beyond belief. This is $10,000 that the state is claiming I owe them not $10 so I really need this fixed ASAP. My accountant showed me the same situation with their other client who uses American Express as a merchant and they were able to issue the fixed 1099k in their SSN with a $0 amount because thats what they needed to see not that the business EIN 1099k is fixed.

Re: How can I correct a 1099-K form for the current tax year (2016)?

puka — Sun, 19 May 2019 00:41:49 GMT

Hi @Liusshanghai - It looks like the CS team did reach out to you on May 3rd shortly after we escalated your case that same day (subject: A message from Square Support). Please check your spam folder if you are not seeing it within your inbox. Since we're not able to discuss account details over the Community due to its public nature, I recommend opening a case with any follow up questions you may have. They'll be able to take it from there.

Change Social Security to Business Tax ID

OA — Sun, 10 Nov 2019 03:49:03 GMT

I edited my SSN to business tax ID and my name to business name "as it should for tax purposes" but it doesn't seems to be updated on square. My accountant had to amend my previous tax bcos square was reporting the income as personal though it was deposited into business account. I have tried to call square but no luck. I need to correct it ASAP so that square can report accurately to IRS.

Re: Change Social Security to Business Tax ID

Kassi_ — Mon, 11 Nov 2019 16:20:10 GMT

Hi @OA !

So sorry you're having trouble getting in contact with us. For something like this, I will go ahead and escalate this over to Customer Success directly. They would be able to help you get the changes made to your account. Also, they will be able to assist with getting an updated 1099-K Form.

I have the same problem with the 1099 going to a personal social security number and not the company

ljpraver — Mon, 16 Dec 2019 06:52:59 GMT

I changed the tax form for 1099 to the ein and NOT personal social security number and I need the 1099 updated ASAP as the irs is showing it as personal income and my tax accountant says the taxes have already been paid on this through the business - please advise ASAP