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 › Meet Your Deadlines: The 2024 1099 NEC Due Date
Starting from the tax year 2020, Form 1099-NEC was reintroduced by the IRS to report nonemployee compensation, replacing the 1099-MISC for this purpose. Nonemployee compensation refers to payments made to independent contractors and vendors, which must be reported to the IRS. If your business hired independent contractors or vendors and paid over $600 for their services, you must file a Form 1099-NEC with the IRS and provide the contractor or vendor with a copy.
Form 1099s must be distributed by the employer to the recipient on or before January 31st
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.
Visit our deadlines article to learn more about Form 1099 due dates.
Most states also have a filing deadline of January 31st, but some may vary. View our state deadlines post to learn more about the state filing deadlines.
When filing Form 1099-NEC, your business is considered the “payer,” and the independent contractor or vendor is the “recipient.” The form requires the following information:
Complete the Payer Details section. This includes:
Complete the Recipient Details section. This includes:
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 live chat with a real person 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.
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:
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.
Note: IRS recommends that payers utilize the e-file option over paper filing for faster processing.
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.
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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.