Corrected 1099-NEC but IRS still showing old one in my account - what now?

This happens more often than you'd think! When a company issues a corrected 1099-NEC, they're supposed to submit it to the IRS, but there can be delays in processing and updating the IRS systems. The most important thing is that you have the corrected 1099-NEC in your possession. When you file your taxes, use the information from the corrected form, not what's showing in your IRS portal. The IRS system may not update immediately (or sometimes at all) to show the corrected version. To protect yourself, make sure you keep both versions of the 1099-NEC (the incorrect one and the corrected one) with your tax records. If there's ever a question, you can show that you properly reported based on the corrected form that was issued to you.

I went through something similar last year with a corrected 1099 and it was a nightmare trying to sort it out. I finally found taxr.ai (https://taxr.ai) which helped me compare the documents and understand exactly what changed. It basically analyzes your tax documents and explains the differences in plain English. In your case, it would confirm that only the account info changed but the income amounts stayed the same. This was super helpful for me because it gave me peace of mind that I was filing correctly and had documentation if the IRS ever questioned it. It also helped me draft a simple explanation to include with my return.

I just wanted to follow up about my experience with taxr.ai since I decided to try it after asking about it here. It was actually really helpful! I uploaded both versions of my 1099 (original and corrected) and it showed me exactly what fields changed and what stayed the same. The report it generated clearly showed that my income amounts hadn't changed, just the account information. I'm keeping this with my tax records in case there's any question. I also really liked how it explained the potential impact of the changes - basically confirmed that since the income amounts were the same, there shouldn't be any tax calculation differences. Definitely gave me peace of mind about filing with the corrected form even though the IRS still has the old one in their system.

Honestly the bigger issue here might be getting through to the IRS if they do send you a notice about the discrepancy. I spent WEEKS trying to call them about a similar issue last year. Finally used this service called Claimyr (https://claimyr.com) that got me through to an actual IRS agent in about 20 minutes instead of the hours I was spending on hold. They have a video of how it works here: https://youtu.be/_kiP6q8DX5c I was skeptical at first but it actually worked. The agent I spoke with explained that corrected 1099s are super common and told me exactly what to do. Basically just file using the correct form and if you get a notice, respond with documentation. Having that direct conversation saved me so much stress vs. trying to figure it out online.

I need to eat my words from my previous comment. I finally broke down and tried Claimyr after continuing to get nowhere with the IRS on my own. It actually worked exactly as advertised. Got connected to an IRS rep in about 25 minutes (after spending literally hours trying on my own over several days). The agent confirmed that this corrected 1099 situation happens all the time and is not a big deal. They told me to file with the corrected form and keep both versions with my records. If I get a letter, just respond with copies of both and a brief explanation. Saved me so much stress knowing exactly what to do from an official source. Sometimes you just need to hear it directly from the IRS to stop the anxiety spiral!

Random question - does the corrected 1099 have a checkbox marked that says "CORRECTED" at the top of the form? If not, you might want to double-check with the company that they actually submitted it as a correction rather than just sending you a revised copy. Proper corrected forms should be clearly marked.

Quick tip: if the only thing that changed was your banking info and not any of the actual income amounts, you probably don't have much to worry about from a tax calculation perspective. The IRS is primarily concerned with the income reporting being accurate.

This is actually a really common situation and you're handling it correctly! The fact that you have the properly marked corrected 1099-NEC with the "CORRECTED" checkbox is what matters most. The IRS portal can be slow to update or sometimes never shows the corrected version on the taxpayer side, even though their internal systems may have processed it correctly. What's important is that you file using the corrected form and keep both versions in your records. Since you mentioned this was just a change in banking information (personal to business account) but the income amounts stayed the same, this is actually a pretty straightforward correction. The IRS is primarily concerned with accurate income reporting for tax purposes. My advice: File with the corrected 1099-NEC, attach a brief note explaining you're using the corrected version, and keep both forms with your tax records. If you get any correspondence from the IRS about a discrepancy, simply provide copies of both forms showing the correction was properly issued. This happens all the time and the IRS has procedures to handle it. Don't let the anxiety get to you - you've done everything right by getting the proper correction issued!