It is becoming more and more the norm to see the Too Big To Fail Nationals issue 1099MISCs which are either erroneous or incorrect. Many Contractors are simply at a loss as to what course of action they have. First and foremost, you need to contact the entity that issues the 1099 and substantiate your claim. We recommend that you do this both in email and by Certified Mail. Second, you need to contact IRS. IRS has been dealing with this issue for years and especially of late due to the financial institutions issuing 1099s on foreclousres.
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