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 › Understanding 2023 Form 1099-INT Due Date
Form 1099-INT is part of the 1099 Series of IRS tax forms and specifically reports interest income to the IRS.
As this form is filed annually, a refresher on the process can be helpful. Here's an overview of how to file Form 1099-INT electronically for the tax year 2022 and the due dates.
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.
1099 penalties may be subject to the following:
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.
Form 1099s must be distributed to the recipient on or before January 31st
Paper filing must be filed with the IRS on or before February 28th
Form 1099s must be e-filed directly to the IRS on or before March 31st
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.
Note: IRS recommends that payers utilize the e-file option over paper filing for faster processing.
E-filing Form 1099-INT electronically is simple and convenient, especially with BoomTax! To begin filing, follow these 3 simple steps:
You can import your data as Excel, XML, or use files from popular payroll providers like QuickBooks, UKG, ADP, and many more.
We walk you through the process with no complicated jargon. You can also chat with us as you work on your filing for hands-on help.
Once your data is loaded, you can e-file and distribute employee copies in minutes.
If you need a solution for distributing recipient copies, BoomTax has you covered! Choose from postal mail and online access options.
To file Form 1099-INT, you'll need the following information:
Complete the Payer Details section. This includes:
Complete the Recipient Details section. This includes:
Purchasing any BoomTax package will give you everything you need to complete your filing.
Import many companies in one spreadsheet to simplify data input.
We validate your data against hundreds of IRS rules.
No IRS registration or testing required.
Make as many changes as needed for free.
BoomTax supports the secure and accurate filing of Form 1099-INT with the IRS and state agencies. Additionally, we offer distribution solutions for recipient copies electronically and physically.
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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.