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1099 TAX FORM
Everything you need to know
about the 1099 form

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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.

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WHO GETS A 1099 TAX FORM?
If your company hires independent
contractors throughout the year, then the
1099 form should be top of mind.

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WHEN DO YOU HAVE TO SUBMIT
FORM 1099?
In most cases, the Form 1099 must be
furnished to necessary recipients by January
31, 2022.

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THE MANY VARIETIES OF 1099s
1099 - INT
1099-DIV
1099-G
1099-R
1099-B
1099-S
1099-MISC
1099-NEC

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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:

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info@safebooksglobal.com