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
Form 1099-NEC Due Date: Deadline and Filing Requirements
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.
What is the deadline for filing Form 1099-NEC with the IRS?
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January 31st, 2024
Recipient Copies/Paper/E-file
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.
Filing Requirements for Form 1099-NEC Deadline
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:
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
Form 1099-NEC Boxes
Follow our instructions on how to fill out Form 1099-NEC. Then, begin e-filing your Form 1099 today, and BoomTax will send real-time updates from the IRS throughout the filing process!
How to File Form 1099-NEC Electronically?
E-filing your Form 1099-NEC is easy using an IRS Authorized E-file provider like BoomTax. To get started, create a free account and follow these 3 simple steps to file your 1099-NEC electronically:
Import Your Form 1099-NEC 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.
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.
All Features Included
Purchasing any BoomTax package will give you everything you need to complete your filing.
This includes:
- Federal E-File
- State E-File
- Recipient Copy Download as PDF
- Official IRS Copy Download as PDF
- Unlimited Corrections
1099-NEC Bulk Import
Import many companies in one spreadsheet to simplify data input.
Data Validation
We validate your data against hundreds of IRS rules.
Hands Off E-File
No IRS registration or testing required.
Free Corrections
Make as many changes as needed for free.
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.
