When Are 1099 Forms Due and What are the Late Filing Penalties?

A form 1099 is an information return and is a tax form that you get in the mail if you have received certain types of income during the previous tax year. The information your receive will have to be placed on your tax return. A 1099 is very similar to a W-2 but where a W-2 reports any wages, salaries, and tips earned, a 1099 reports all the other kinds of income you may receive as well. There are many different types of 1099 forms and each one is used to report different types of income.

When Should I File my 1099 IRS Form?

The deadline for employers to mail out W-2s and send form 1099 statements to their employees and for their business is January 31. The deadline for financial institutions to mail out their 1099 forms is February 18. The deadline for businesses to mail their 1099 forms in is February 28 if doing it by paper and April 1 if doing it electronically. In order to file your forms electronically you will need to have a specific software that will generate a file that you can use to submit everything you need online.

What are the Penalties for Filing Late?

If you fail to file your 1099 electronically on time then you may be subject to a penalty per return unless you can provide a good reason why you missed the deadline.

You can also receive penalties for:

·         Failing to include all the information that is required

·         Filing your 1099 with false information

·         Filing your form on paper when you should be filing it electronically

·         Reporting an incorrect tax identification number (TIN)

·         Not reporting your TIN

·         Filing paper forms that are not readable by the machine

The amount of the penalty is based on the time you file your forms with all the correct information. The penalty is typically:

·         $15 per information return if you file the correct information within 30 days of the due date. For small businesses the maximum penalty is $25,000 and for individuals it’s $75,000.

·         $30 per information return if you file the correct information more than 30 days after the due date but by August 1 of that year. For small businesses the maximum penalty is $50,000 and for individuals it’s $150,000.

·         $50 per information return if you file after August 1 or you do not file the required information on your returns. For small businesses the maximum penalty is $100,000 and for individuals it’s $250,000.

One of the easiest and most efficient ways to prepare your tax return is by filing your forms online with an online tax software. You don’t have to worry about figuring out how to file form or where you need to put what number because the software will guide you through the entire process telling you where to find what information and what each box means in regards to your taxes. So when getting ready to file your federal 1099 form online make sure you have all the correct information and you meet the deadline for filing.  

Visit The IRS Authorized Efiling Partner Etax1099.com for Hassle free Filing of Form 1099

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How to File IRS-1099 MISC Online?

There are many business relationships in which a company pays an independent contractor or freelance worker for his or her services, yet this compensation is not a part of general wages due to the fact that this is not an employer/employee situation. If this applies to you, you will need to complete an IRS 1099 MISC form for your contracted workers. While the process of filing a 1099 MISC is not complicated, it can still be a headache for business owners who just want to hurry up and file their taxes and get back to business. If you are looking for an easy way to do just that, you should consider making the decision to file 1099-MISC online.

The Simple Process of Filing Online

Whether you are a tax professional or business owner, the process filing IRS 1099 MISC online is very simple when you use a service such as Etax1099.com. After you create your account and login, you add your payer's details, enter the tax information, add your payee's details, and submit your forms to the IRS. One of the benefits of using Etax1099.com to file 1099-MISC online is the fact that you don't have to enter your information over and over for multiple payees; instead, you can control them all from a single account and use cut and paste as needed.

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Etax1099.com Extras

When you file with Etax1099.com, you are not alone. We provide 24/7 customer service to ensure that you have assistance within reach any time of the day or night in case you run into a snag or have a question. Additionally, you don't have to buy or download any software, because the entire process is completed through our site online. With E-mail updates keeping you informed, there will never be a doubt as to whether or not your IRS 1099 MISC forms went through properly. Also, you can instantly print your forms for your payees as soon as your data entry is complete.

Different Account Types

Etax1099.com has you covered, no matter if you are a professional tax preparer or a business owner. With support for unlimited numbers of businesses and special discounts for bulk filings, tax professionals can be certain that they are filing for the best price and getting the best services around. Business owners likewise can file an unlimited number of IRS 1099 MISC forms using Etax1099.com, and the support, rates, and user friendly interface is perfect for seasoned filers and newbies alike. If you don't want to bother with entering your tax information, you can also send us all of your info and we will enter it for you with the premium service package.

Everyone knows that dealing with the IRS can be a hassle at best and a nightmare at worst. Why not take advantage of online filing and make the whole process a little less difficult? You will be glad you did, as will your payees. From start to finish, Etax1099.com will get your 1099 forms completed and submitted so you can get on with more important matters.

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How and Why You Need to E-file Form 1099?

There are many reasons you need to fill out and file form 1099. Today we are going to talk about who must file form 1099 and who can file 1099 online from Etax1099.

Why File Form 1099?

You must file form 1099 if you have many a salary, tips, or wages that have not been reported to the IRS already.  Any and all money that a person makes is taxable and must be reported using the form 1099-MISC if you have made over 600.00 a year. Many professions are known to have to deal with taxes themselves using this form and some of them include babysitters, waitresses, people who freelance, contractors, artists, and even people who have their own businesses and do work for others will need to fill out form 1099-Misc.  To make things easier for you and for the IRS you are able to e-file 1099 using our services here at Etax1099.com. 

How to File Your Form 1099 Online?

Etax1099 offers a very easy way for to e-file online using a 5 step process.  First, you will need to set up an account and this includes your personal information such as your name, where you live, what kind of profession you are currently work for, and if you are self-employed.  The next step is to fill out the payer’s information and this is where you fill in who you did the work to be taxed for.   The person that you fill this out for should give you a form with the amount on it, this is where you will find the information needed to give the IRS. Next, you will have to add the tax details so the IRS knows how much money has been paid out and you will then figure out how much money you owe the IRS.  Next, after all the information has been filled out and you no longer have any questions you can e-file to the IRS for a very cheap price, starting at 3.95 dollars.  You will also be able to access 24 hours and 7 days a week customer service if you have any questions, and we offer many different plans if you need extra help including a premium plan which allows us to do all the work for you if you prefer.  

Why to trust Etax1099.com?

You can trust Etax1099.com because we are an authorized IRS provider, an accredited business with the Better Business Bureau, McAfee Secured, and also has the Go daddy secured site award to assure that all business done on this site is secure and safe.    Your information will be kept in your personal account for 3 years in case you need any information that was done a few years before. 

As you can see there are many great reasons to e-file your form 1099-MISC with etax1099.com.  We offer a safe, secure, easy, and helpful way to report all your 1099 forms without any hassle and we will walk you thru it step by step. 

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