If the issuer of a 1099r or w-2 finds an error. How long is he required to go back and correct the error. I couldn't find anything on the IRS website regarding this?
Thanks,
Thanks,
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The Instructions
for form W2-c and W3-c say to file the forms as soon as possible after the error is discovered. -
I'm not sure there is even a statute for this, but if you find a 10 year old error, and are the issuer, why mess with it in my opinion....if it's a recent find (within the statute for personal amendments, ie: 3 years), then change it....I know it's not a definitive answer, but I'd almost think I'd leave everything 4 years and older alone, unless the recipient of the 1099/w2 is putting up a stink and found the error and is demanding the change....if that's the case, change it. But as far as code goes, I'd be curious if there was a statute. My guess is there isn't. I've recently done corrections dating beyond the 3 year mark, but that is because records were mismatched with social security and neither the issuer or the recipient was demanding anything, but the IRS and social security were saying, "It's not matching", so we had to correct it; just within this past week actually.Comment
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