1099'S & W2's are due Janaury 31st!


1099's & W2's are Due January 31st!

If a business fails to issue a form by the 1099-NEC or 1099-MISC deadline, the penalty varies from $50 to $270 per form, depending on how long past the deadline the business issues the form. There is a $556,500 maximum in fines per year for small businesses.Jul 27, 2022

Each year, employers must provide their employees with W-2 forms, showing the wages and other money paid to the employer for the year and the taxes withheld from these payments. Employees use these forms to file their tax returns. You're required to supply these forms to your employees no later than January 31. Failure to do so, or to file your employers' copies of the W-2s by the IRS deadline, could result in penalties.