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1099 form issuance after January 31 deadline

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    #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.
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    #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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