Nervously awaiting your CP2100 Report from the IRS? Collecting and organizing all the needed documentation to show where you’ve mailed W-9s and corrected your 1099s, all while trying to stay current with the ever-changing rules and regulations can be extremely stressful – especially with potential IRS fines hanging over your head.
Most healthcare payers receive their CP2100 Reports in the Fall, starting in September. The CP2100 Report show any errors due to missing or potentially incorrect TIN/Legal Name mismatches identified during the filing of the annual 1099s. This report is time sensitive and requires proof that you attempted to correct the Tax Ids and Legal Names by requesting completed W-9s. Furthermore, B and 2nd B Notices may need to be issued after receiving this report. For Tax Ids in which you don’t have the necessary documentation proving you did your due diligence, could result in potential IRS fines/penalties.
W-9 Corrections created The 1099 Solution to help healthcare payers avoid this stress by being proactive throughout the year to ensure they have the best information and documentation to file their 1099s and avoid potential fines. W-9 Corrections takes pride in the fact that no client has ever received IRS fines due to TIN/Legal Name mismatches.
Want to avoid potential IRS fines and need assistance with your CP2100 Report? Contact W-9 Corrections today to see how we can best help by giving us a call at (704) 424-9889, sending an email to info@W9Corrections.com or visiting our website.
*** See Below for important 1099 Upcoming Dates***
SAVE THE DATES:
September 2019– W-9 Corrections CP2100 Report Reminder
- The IRS may be sending a CP2100 report from previous filing years. This may be due to missing or potentially incorrect TIN’s identified during the filing of your annual 1099 file.
- Once the IRS issues your CP2100 report, please forward it to W-9
Corrections so we can:
- Process and mail B/2nd B-Notices with W-9 enclosures to appropriate Tax IDs
- Advise you of records that could be eligible for backup withholding
- Supply you with reasonable cause data for providers that still have incorrect information
October 2019 – W-9 Corrections 3rd Quarter Processing of 1099 File to begin the cleanup process
- Proactive letter and a blank W-9 form will be mailed to all providers with invalid TIN/Name combinations to collect valid information
November 30, 2019 – Deadline to receive your W-9 Corrections 4th Quarter 1099 File Processing
- Proactive letter and a blank W-9 form will be mailed to all providers with invalid TIN/Name combinations to collect valid information
January 31, 2020 – All 2019 1099s must be postmarked and mailed by the January 31st deadline
January 31, 2020 – If you are reporting box 7 payments in your 2019 1099 Live File, per the IRS all 1099s must be printed, mailed, and filed by January 31, 2020
March 31, 2020 – Deadline to file Box 6 2019 1099-MISC Live File to the IRS