Yardley CPA Posted March 25, 2021 Report Share Posted March 25, 2021 As I was reviewing this years completed tax return for a client, I noted that the pension information that was efiled last year was transmitted with the wrong payee information. All of the financial information was reported correctly but it was transmitted using a different payee. There must of been an old 1099-R input screen that I inadvertently input the information on with the incorrect Payee and TIN. Is there a way to rectify this? Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 26, 2021 Report Share Posted March 26, 2021 You don't need to do anything. I think the IRS check amounts before it checks from who. If the amounts reported match with what the IRS has on record, no letter is received. 1 1 Quote Link to comment Share on other sites More sharing options...
BobbyCPA Posted May 9, 2021 Report Share Posted May 9, 2021 On 3/25/2021 at 3:07 PM, Yardley CPA said: As I was reviewing this years completed tax return for a client, I noted that the pension information that was efiled last year was transmitted with the wrong payee information. All of the financial information was reported correctly but it was transmitted using a different payee. There must of been an old 1099-R input screen that I inadvertently input the information on with the incorrect Payee and TIN. Is there a way to rectify this? That happened to me 2 or 3 times in the past with the submission of an incorrect payer ID # but those clients never received a notice. 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted May 9, 2021 Report Share Posted May 9, 2021 You mean payer info. Payee is your client. Yes, the IRS only validates that it's a valid EIN for efiling. And as long as the total 1099R income equals what the IRS has, their computer won't kick it out. 1 Quote Link to comment Share on other sites More sharing options...
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