If you didn’t issue 1099s for last year, don’t panic — but don’t ignore it either. The IRS imposes penalties for every late or missing form, and they increase the longer you wait.
Penalties for Late 1099s
- $60 per form if filed within 30 days late
- $120 per form if filed after 30 days but before August 1
- $310 per form if filed after August 1 or not at all
- $630+ per form for intentional disregard (no maximum cap)
Penalties apply separately for not sending the recipient copy and for not filing with the IRS.
Why You Should Still File Late
- The IRS often reduces penalties if you file as soon as possible.
- Contractors and vendors still need their 1099 copies to file taxes correctly.
- If income was already reported on the recipient’s tax return, penalties may be reduced.
Options for Penalty Relief
- Reasonable cause relief: illness, natural disaster, or technical issues may qualify.
- First-time abatement: if you’ve had a clean history for the last 3 years, you may qualify.
How We Can Help
Don’t waste time stressing over late 1099s. At 1099FIRE, we can prepare and e-file your late forms directly with the IRS, furnish recipient copies quickly, and reduce the risk of IRS penalties with accurate, IRS-approved filing. If you’d prefer to step away from the process entirely, we can also handle the whole job for you through our outsourcing service.
Forgot to file your 1099s? We can help you get back on track. Contact 1099FIRE today at (480) 706-6474 to file late forms quickly, accurately, and with less risk of penalties.