1099 Deadlines, Penalties & State Filing Requirements for 2019/2020
As the year 2020 has started, the 1099 deadlines will loom closer. Being a responsible employer, it’s important to prepare and issue 1099s to the recipients, and file them to IRS responsibly without any delay.
1099 tax form, referred to as “Information Returns” by IRS, should be sent by the company to the independent contractors if it paid more than $600 to them in the year 2019. Since there are many types of 1099 forms, the common forms are 1099-MISC, 1099-INT, 1099-S, 1099-C, 1099 B, 1099-R and 1099-DIV.
It’s important for the small business owners or employers to prepare and file the appropriate 1099s to the IRS before the 1099 deadlines otherwise heavy penalties for late submissions or wrong information will be imposed. The following table will help you to remember all the 1099 due dates for 2020 for sending tax forms to the contractors and for paper filing or e-filing them with the IRS.
1099 Deadlines for 2019
The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation. The filing due date for other Forms 1099 & 1096 remains February 28th, 2020 if filing by paper, and March 31st, 2020 if filed electronically.
| Form | 1099 Due Date to Recipients | Filing to IRS By Mail | E-Filing to IRS |
| 1099-MISC (NEC Only) | January 31, 2020 | January 31, 2020 | January 31, 2020 |
| 1099-MISC (Other Forms) | January 31, 2020 | February 28, 2020 | March 31, 2020 |
| 1099-DIV | January 31, 2020 | February 28, 2020 | March 31, 2020 |
| 1099-INT | January 31, 2020 | February 28, 2020 | March 31, 2020 |
| 1099-R | January 31, 2020 | February 28, 2020 | March 31, 2020 |
Need help filling? Click here to learn more about our small business accounting services.
Penalties for Late Filing
The penalties range from $50-$550 per missed 1099 tax form, depending on how late the forms were submitted.
| Penalty per Form | Length of Delay |
| $50 | More than 30 days late |
| $110 | More than 30 days late but before August 1st, 2020 |
| $270 | Filing on or after August 1st, 2020 |
| $550 | Intentionally neglecting to file |
The maximum penalty is a total of $1,113,000* for small businesses. In all cases, the IRS considers you to be a small business if you’ve earned an average of $5 million or less in annual revenue for the past three tax years. Learn more here.
New State Filing Requirements
Combined State/Federal Program for 1099-series
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Idaho, Indiana, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, South Carolina, Vermont, Virginia, Wisconsin.
States with no 1099-MISC filing requirement:
Alaska, Florida, Illinois, Nevada, New Hampshire, North Carolina, New York, South Dakota, Tennessee, Texas, Washington, Wyoming
States that require 1099-MISC filing, if you withheld:
Kentucky, Rhode Island, Utah, West Virginia
States that require a separate 1099-MISC filing or are unclear on their filing requirements:
Iowa, Massachusetts, Oklahoma, Oregon, Pennsylvania, Washington DC
If you are filing 250 or more information returns for the calendar year, then e-fling is a must. Else, you can paper file and mail to IRS for less than 250 information returns.
If you have any questions about the 1099 filing, you can reach us at any time. We’d be happy to help you out.