Best Practice for supplier name change

Hello,

1) If the supplier is tax reportable and they update their name.  Is it required to create new name or can update existing? consider tax reporting name also changes?

2) If the supplier change their name and tax id, do we need to create new supplier?

3) If we go with supplier merge for option 2, can we able to report 1099 on both suppliers?

Provide some insight best way to handle supplier name change process during different scenarios

regards

Madhu