While a mismatched TIN and name may not always result in fines, it can cause delays, issues with refunds, and potential penalties for businesses and individuals. It’s crucial to ensure that the information on your tax forms is accurate and up to date.
- For Businesses: If a business submits Form W-2 or 1099 forms to the IRS with a mismatched TIN and name, the IRS can impose penalties for incorrect information. These penalties can increase if the error is not corrected in a timely manner.
- For Individuals: If you’re filing a tax return and there’s a mismatch between your name and TIN, it could result in delays or a rejection of your return. While the IRS doesn’t impose fines for the mismatch itself (if you are filing correctly), it may delay your refund or trigger additional scrutiny.
If you want to learn about IRS Notices CP2100 or CP2100A, click here.