1099s & W-2s Are Due January 31st!
Employers and businesses are required to issue year-end tax forms to recipients and file them with the IRS and Social Security Administration by January 31 to avoid penalties.
1099 Filing Requirements
File Form 1099-NEC or 1099-MISC for any non-employee paid $600 or more during the year.
Due Date: January 31 (to both recipient and IRS)
Penalties for late filing (per form):
- $60 — If filed within 30 days after the due date
- $130 — If filed more than 30 days late but before August 1
- $330 — If filed after August 1 or not filed at all
- $660 — For intentional disregard of filing requirements
View IRS 1099 Penalty Guidelines
W-2 Filing Requirements
Form W-2 must be issued to each employee to report wages and taxes withheld. A copy must also be filed with the Social Security Administration.
Due Date: January 31 (to both employee and SSA)
Penalties for late filing (per form):
- $60 — If filed within 30 days after the due date
- $130 — If filed more than 30 days late but before August 1
- $330 — If filed after August 1 or not filed at all
- $660 — For intentional disregard of filing requirements
Need help filing your 1099s or W-2s? Contact our team today.