When are 1099 Due

1099 Deadline to E-File

IRS Form 1099 refers to the type of information return. You have to report the information from 1099 on your tax return. It is the most important form of your tax return. The form 1099 is matched to your Social Security number, so the IRS can easily prepare a tax bill in case you are unable to report. Also, you are guaranteed an audit or tax notice in case you fail to report a Form 1099. The filing date for form 1099 has been changed by IRS and it is six years to audit by the IRS instead of three years. Users can also check How to Electronically File and Pay Payroll Taxes in QuickBooks.

Different types of 1099 forms, reporting requirements, and due dates

We had posted step-by-step instructions for QuickBooks 1099 Form Filing.

Form Type	Form Description	Reporting Requirement	Receive By
1099-A	Acquisition or Abandonment of Secured Property	Any amount	January 31
1099-B	Proceeds From Broker and Barter Exchange Transactions	Any amount	February 15
1099-C	Cancelation of Debt	$600	January 31
1099-CAP	Changes in Corporate Control and Capital Structure	$100 million	January 31
1099-DIV	Dividends and Distributions	$10	January 31
1099-G	Certain Government Payments	$10	January 31
1099-H	Health Coverage Tax Credit (HCTC) Advance Payments	Any amount	January 31
1099-INT	Interest Income	$10	January 31
1099-K	Merchant Card and Third Party Network Payments	$20,000	January 31
1099-LTC	Long-Term Care and Accelerated Death Benefits	Any amount	January 31
1099-MISC	Miscellaneous Income	$600 for non-employee compensation	January 31
1099-OID	Original Issue Discount	$10	January 31
1099-PATR	Taxable Distributions Received From Cooperatives	$10	January 31
1099-Q	Payments From Qualified Education Programs	Any amount	January 31
1099-R	Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.	$10	January 31
1099-S	Proceeds From Real Estate Transactions	$600	January 31
1099-SA	Distributions From an HSA, Archer MSA, or Medicare Advantage MSA	Any amount	January 31
RRB-1099	Railroad Retirement Board Statement	Any amount	January 31
SSA- 1099	Social Security Benefit Statement	Any amount	January 31

1099-MISC Deadline (1099-MISC Due Dates) for 2019 / 2018

File Copy A of the 1099-MISC form with the IRS by February 28, 2019.

When you file the 1099 form electronically, the due date is April 2, 2019. For e-filing, you need to have software that creates a file according to the specifications in Pub. 1220.

Below Is Table Which Clears all doubts related to the 1099 Form Due Dates

Form	Due to Recipients	Filing to IRS By Mail	E-Filing to IRS
1099-MISC (NEC Only *)	January 31, 2019	January 31, 2019	January 31, 2019
1099-DIV	January 31, 2019	February 28, 2019	April 01, 2019
1099-INT	January 31, 2019	February 28, 2019	April 01, 2019
1099-R	January 31, 2019	February 28, 2019	April 01, 2019

1099-MISC NEC  : Its refers to non-employee compensation (NEC) in box 7 1099 form which is mandatory for according to The Protecting Americans from Tax Hikes (PATH) Act of 2015 . User have to submit 1099 NEC before 31 January . For the non NEC 1099 user have to file separately .

Copies of 1099 Form

The user must have to understand all about the 1099 form copies which should be sent to IRS, Which should remain with the Employee or employer.

• Copy A— Must have to be Sent to IRS electronically
• Copy B— This Copy Will Be Go to the Recipient Or Vendor Via Email Or any mode, For Vendor Record Purpose Only, Employer/ Company can download & Print this Copy from QB
• Copy C— Employer/Company can keep this copy for their own records
  • Copy 1— This Will Be go to State Tax Agency
  • Copy 2—Employer/Company has to send this copy to vendor or contractor, the recipient can use this copy during state tax form filling

1099 Late Payments Penalties

What Penalty you have to bear for no filing or incorrect filing?

• $75,000 per year – maximum Penalty
• If you run a small business – $25,000

Besides that if missed the deadlines for 1099 fillings below are the rate of penalties

• If Delayed more than 30 days, the penalty is $50 per form ($547,000 max)
• If delayed more than 30 days but before August 1st, 2019 the penalty is $100 per form ($1,641,000 max)
• If going to submit / e-file after August 1st, 2019 the penalty is $270 per form ($3,282,500 max)
• In case IRS identified that company intentionally did not file 1099 then penalty will be $530 per form

FAQs

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