WHAT IS THE 1099 TAX FORM?
The IRS 1099 Form is a collection of tax
forms documenting different types of
payments made by an individual or a
business that typically isn’t your employer.
WHO GETS A 1099 TAX FORM?
If your company hires independent
contractors throughout the year, then the
1099 form should be top of mind.
WHEN DO YOU HAVE TO SUBMIT
In most cases, the Form 1099 must be
furnished to necessary recipients by January
THE MANY VARIETIES OF 1099s
1099 - INT
WHAT HAPPENS IF YOU DON'T
SUBMIT A 1099 FORM?
Within 30 days of the deadline: $50 per form
After 30 days but before August 1: $110 per form
After August 1: $270 per form
Businesses that fail to send 1099s to their payees or
the IRS face the following fines and penalties:
SAVE THIS FOR
Assisting CPA Firms and EA's with their
accounting and taxation services