Question on 1099 Processing

Hello,

My client currently store/capture TAX ID at Vendor Location level and asked recommendation on the below scenario:

They have their current vendor who is WH reportable and had transactions for the current year using the Vendor ID and Location below.

VendorID  1000001  Loc 0001 -  ABC Manufacturing  Tax ID 000000001 eff.dt 01/01/2015

Vendor communicates saying they are being acquired by new company with new name same address and new tax ID. What is the recommended approach to make the change:

option 1

Modify current vendor and create new effective date for the location reflecting tax ID and update Vendor Name?

Vendor ID 1000001   Loc 0001 -   DEF  Manufacturing  Tax ID 000000002  eff.dt 07/01/2015