1099 form issuance after January 31 deadline

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  • FrebergCPA
    Junior Member
    • Jan 2022
    • 13
    #1

    1099 form issuance after January 31 deadline

    We have both a small corporation and a small non-profit organization who each should have issued out at least one 1099-NEC form for 2024. I am not aware of any penalties by IRS for late issuance but I suspect others here have come into this issue. Our firm uses the IRS FIRE system which has worked well. Any thoughts on this appreciated. Thank you.
    Tags: None
    • spanel
      Senior Member
      • Oct 2008
      • 845
      #2
      Better late then never, the penalty is over $500 per 1099 late, but have never seen a penalty for this ever

      Chris

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