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Corrected 1098 Form: What You Should Know
You can submit this corrected form, along with your original, to your lender as a form 1099. Make sure to read the Instructions for Form 1099 and check IRS Publication 943 before completing your Form 1099-MISC. If you have errors on your form you must submit the correct form. The IRS is not going to look kindly on having an erroneous form on file. If you received a corrected 1098 and need to claim a refund, please contact Argo Financial Group at x 6272. Correcting Erroneous IRS 1098's If you received a corrected 1098 you cannot claim a refund. You must complete a new 1098 using the new identification numbers assigned to your Form 1098. You still need the ID. 1099-MISC. Make sure to check IRS Publication 943. If you have errors on your form you must submit the correct form. The IRS is not going to look kindly on having an erroneous form on file. Form 1098, W-2G, and Forms W-2G -G Both you and your employer have to obtain a copy of the correct form W-2G (Worker's Compensation) for wages paid to you (the employer). This is the form your employer will use to compute the Social Security and Medicare benefits. The W-2G for you should have your name, address and social security number. You will also be required to complete part II, the Schedule 1, for wages reported on Forms W-2 and Forms 941/943 and have the correct W-2 form attached to this. The form will be the W-2G-A. Form 1098 (01/2022) does not have to contain the correct W-2G form. You can use a 1099-MISC to report all wages for wages paid. However, if you do not have the correct W-2 form you will need to do this yourself or pay in cash. This will leave you liable to pay your employer back payroll taxes, not Social Security, for non-covered wages. The Form 1098 you should get is the 1098A, the one that was sent to the IRS for this year.
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