1099 Incorrect/Missing TIN Notice - Spidell

1099 Incorrect/Missing TIN Notice

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Message Board 1099 Incorrect/Missing TIN Notice

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    A client received a notice from the IRS under IRC 6721.  Penalty was imposed on 3 recipients for 87 instances each payee, so the penalty is $260*87=$22,620.

    We, first, sent them a letter with W-9 forms completed by the recipients to waive the penalty, but they declined with saying that the reasonable cause was not established.

    Does anyone have this type of experience?  If so, how did you solve this matter?  Please advise.


    Thank you.