I have never had this happen before, but I was just issued an incorrect 1099. I don’t want to pay any extra on tax that I do not rightfully owe, so what is the remedy?
How to fix an incorrect 1099;
Getting a 1099 form corrected isn’t always an ordeal, but the key is to act quickly once you discover a mistake. Though issuers generally have until the end of February to file 1099s with the IRS, that deadline is extended to March 31 for forms that are filed electronically. So if you act quickly enough, you might manage to catch the issuer before that form reaches the IRS in the first place.
When preparing your tax return, please check your documents carefully as well as checking your math.