My 1099 tax form is incorrect. How do I make changes?
You can edit your name, TIN, and address in your online payments settings but you’ll need to reach out to our platform directly for volume changes. Since our platform is your 1099-K tax form filer, we will be able to assist with issuing you a correction, updating volume, or splitting your 1099-K tax form if necessary.
Note that any information you edit will not appear in a 1099-K tax form that has already been filed with the IRS. Our platform can make the requested corrections and file the new 1099-K tax form with the relevant tax authorities. Once our platform files your correction, you will be notified via email and you will see a new 1099-K tax form appear in the Tax settings.
Changes or questions around updating volume or splits must be solely handled by our platform. Before you reach out to our platform to request a 1099 tax form split between two legal entities, be sure to have the following information handy:
- Legal entity information for both businesses (legal name/TIN)
- Exact split date
1099-K tax form splits require precise matching of tax details, so if you are uncertain, please reach out to the IRS to confirm them by requesting a letter 147C. The best way to request a letter 147C is to contact the IRS by phone at 1 (800) 829-4933. The IRS will fax a copy of what is on file for your business. Please note that you can split the entities in your online payments to separate the 1099 tax forms.
Note that only the current owner of the account is able to view the tax forms in settings. It can take 48–72 hours after the platform files a correction for you to be notified.
This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor with any questions or concerns about tax reporting.
Jan. 5, 2024