After the deadline, but within 30 days
$60 per form
After 31 days - August 1st
$120 per form
After August 1st, or not at all
$310 per form
Intentionally not filing
$630 per form
1099 Forms › Fillable 2023 Form 1099-MISC: Create, E-file, & Print!
Form 1099-MISC: Frequently Asked Questions
What is IRS Form 1099-MISC?
Employers utilize Form 1099-MISC to relay miscellaneous information to the IRS. For example, Form 1099-MISC is used to report payments made for rent, earnings from fishing boats, medical and healthcare payments, prizes, and awards, among other transactions.
Check out these 1099-MISC questions to learn more about IRS Form 1099-MISC.
How to correctly fill in IRS Form 1099-MISC?
Form 1099-MISC features 18 distinct fields.
Sections For Entering Payer Information
Complete the Payer Details section. This includes:
- Name
- Address
- Contact phone number
- Tax Identification Number (TIN)
Sections For Entering Recipient Information
Complete the Recipient Details section. This includes:
- TIN
- Name
- Street Address
- City, State, Zip
Import Your Form 1099-MISC Data
You can import your data as Excel, XML, or use files from popular payroll providers like QuickBooks, UKG, ADP, and many more.
Step-By-Step Wizard
We walk you through the process with no complicated jargon. You can also live chat with a real person as you work on your filing for hands-on help.
E-File & Mail Employee Copies
Once your data is loaded, you can e-file and distribute employee copies in minutes.
What is the Penalty for Missing Form 1099 Deadline?
Failing to file Form 1099 by the deadline or meeting the deadline but providing incorrect recipient information can result in IRS penalties ranging from $60 to $630, depending on how late the form is submitted. The IRS has increased the penalty amounts for the 2024 filing year.
1099 penalties may be subject to the following:
- Furnishing incorrect information on a return
- Failure to provide the required information
- Late filing of returns
- Paper filing when required to file electronically (E-file 1099 if you have 10 or more information returns)
The IRS is accustomed to changing rules year-to-year, sometimes even in the middle of the current tax season! This is why having the most accurate information about the IRS requirements and deadlines for filing any Form 1099 is essential. Use reliable tax software to e-file your forms and stay updated on any changes in regulations or deadlines.
What are the 1099 Deadlines for 2024?
-
January 31st, 2024
Recipient Copies
Form 1099s must be distributed to the recipient on or before January 31st
-
February 28th, 2024
-
April 1st, 2024
E-File
Form 1099s must be e-filed directly to the IRS on or before April 1st
Visit our deadlines article to learn more about Form 1099 due dates.
Note: If the filing deadline lands on a Saturday, Sunday, or legal holiday, the due date will automatically be extended to the following business day.
The exception to these deadlines above is for filing Form 1099-NEC. Depending on the filing method, there is a month's advancement on the recipient and IRS copies being January 31st. Get started with BoomTax and file your 1099 with the IRS, state, and mail recipient copies on time. Get Started Now
If you find errors after filing your 1099 return with the IRS, promptly correct the information and submit the corrected Form 1099 and Form 1096 to the IRS. Also, provide your recipient with an updated 1099 showing the updated details. If you need to correct any state or local tax department information, file the form with the appropriate agencies, not the IRS.
What are the different Form 1099 Copies?
Each Form 1099 has five different copies with their specific purpose:
Copy A
IRS copy for paper filing.
Copy 1
Filed with the State Tax Department.
Copy B
Recipient copy.
Copy 2
Recipient state copy used for state income tax reporting.
Copy C
Payer's copy for their records.
Get started with BoomTax, and file your 1099 tax forms with federal/state and mail recipient copies from one place. BoomTax will never remove past years' filings, and you can continue to make corrections at any time, no matter the year. File my 1099 directly to the IRS Now!
E-filing vs. Paper Filing
- Immediate real-time IRS updates
- File 1000s of forms easily at once
- Validates 1000s of IRS rules
- Can help with questions in real-time in chat
Paper Filing
- It can take weeks to hear a status update
- Requires unique red ink form
- Prone to human error
- No expert to help with questions
Note: IRS recommends that payers utilize the e-file option over paper filing for faster processing.
To file your Form 1099-MISC in minutes, get started with BoomTax. For more frequently asked questions, visit More FAQs. Get started by creating a fillable Form 1099-MISC using our manual entry or bulk upload with our excel spreadsheet .
Takes Only 30 Seconds
BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.
