1099 Deadlines & Penalties

Missing a deadline can be costly. Stay on top of federal 1099 filing requirements with our real-time tracking of important dates and penalty schedules.

Updated for 2024

Key Deadlines

File 1099-NEC with IRS

File Copy A of Form 1099-NEC with the IRS for the previous tax year.

January 31

Penalty: $60 per form (if filed late)

Send 1099-NEC to Contractor

Send Copy B of Form 1099-NEC to the contractor by this date.

January 31

Penalty: $310 per form (if not sent)

File 1099-MISC with IRS (Paper)

If filing 1099-MISC on paper, deadline is February 28.

February 28

Penalty: $60 per form (if filed late)

File 1099-MISC with IRS (Electronic)

If filing 1099-MISC electronically, deadline is March 31.

March 31

Penalty: $60 per form (if filed late)

Penalty Schedule

Penalties for late or incorrect 1099 filings can add up quickly. Here's the current federal penalty structure:

Late Filing (30 days or less)

$60 per form

Minimum $630 per year

Late Filing (31 days - August 1)

$120 per form

Minimum $1,260 per year

Late Filing (After August 1)

$310 per form

Minimum $3,100 per year

Failure to Furnish to Recipient

$310 per form

If you don't send Copy B to the contractor

Intentional Disregard

$630 per form

No minimum penalty, applies to all forms

Important Notes

Deadlines are based on the previous tax year
Penalties can be waived for reasonable cause
Electronic filing required for 250+ forms
Keep all 1099 forms for at least 4 years
File as soon as possible to minimize late fees

Need help filing?

Consult with a tax professional for specific advice on your business filing requirements.

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