When is form 1099 due?

There are mainly two due dates that you need to be aware of – due date for providing recipient their copy, and the due date for filing with the IRS. Generally speaking, if you are filing electronically, the due date is later, as compared to filing on paper. For recipient copies, the mail must be postmarked by the due date. It would help if you also considered e-Delivery for providing recipient copies electronically. It is a convenient way to provide recipients their copies electronically instead of mailing.

Consider filing early and not wait for the due date for filing 1099s. Many companies underestimate the time required for collecting all the information needed for filing 1099s. It is best practice to obtain W-9 from a contractor or vendor before making any payment. Having W-9 from all your vendor helps immensely in preparing to file 1099s.

Here are the due dates for each 1099 form that we at eFile360 support:

What to do if you cannot file by the 1099 deadline?

Companies that need more time to file 1099s can apply for an extension for time to file 1099. Check out Is it possible to get an extension to file 1099? The IRS gives an automatic 30 days extension for filing with the IRS. However, getting an extension to provide recipient copies is possible, but it is not automatic.

What happens if you miss the 1099 due date?

If you file after the 1099 due date, generally, there is a penalty for filing late. Check out 1099 filing penalties. As the late filing penalties increase over time, you must file your forms as soon as you can, even if you missed the filing due date.

It is important that you begin preparing for 1099 form delivery, filing as early as possible, and avoid penalties. Also, using a service provider like eFile360 to file your 1099 forms make it easy and can save you a lot of time.