New 1099 Reporting Rules

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NEW 1099 FILING REQUIREMENTS In order to try to prevent refund fraud, the IRS has change the deadline for the filing of 1099 MISC to 1/31/2017. That is at least a full month earlier than prior years. LATE FEES HAVE DOUBLED: Filing within 30 days late cost $30 per 1099 in 2016. In 2017, missing this new deadline will cost $50 per 1099. Filing within 60 days late cost $50 per 1099 in 2016. In 2017, missing this new deadline by 2 months will cost $100per 1099. Filing more than 60 days late cost $100 per 1099 in 2016. In 2017, missing this new deadline by more than 2 months will cost $260 per 1099. If you need help with 1099's call or email us today.

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