1099 Deadlines & Penalties

Important dates and penalties for federal 1099 filing requirements.

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 penalty structure:

$60 per form

Minimum $630 per year

$120 per form

Minimum $1,260 per year

$310 per form

Minimum $3,100 per year

$310 per form

If you don't send Copy B to the contractor

$630 per form

No minimum penalty, applies to all forms

Important Notes

Deadlines are based on the previous tax year (e.g., January 31, 2025 for 2024 tax year)
Penalties can be waived if you can show reasonable cause
Electronic filing is required if you file 250 or more forms
Keep copies of all 1099 forms for at least 4 years
If you miss a deadline, file as soon as possible to minimize penalties