The penalty for filing late 1099s is based on how late they are filed. The penalty is $50 per return if they are filed 30 days after the due date January 31st and $100 per return if they are more than 31 days late. Now, if you don’t file at all you can get $230for each 1099 that is not filed and $530 if it was intentional disregard.
The IRS keeps enforcing strict rules on filing 1099s on time. When filing federal income tax you will be asked if your Corporation makes any payments that require 1099 and if you have filed those forms. For this tax providing false information regarding 1099s may have future implications for companies and their directors.
Source: IRS Article June 2018
On this Veteran’s Day our team wants to say thank you to the men and women who have served our country. We are grateful and forever indebted to you!
This Monday is the beginning of your happy journey throughout the whole week, so enjoy it!
To request this discount simply message us with the code before the end of 11/27/2017. And we’ll message you back the list with discounted prices! Act Now! http://www.ledgeraid.com/contact
Ledger Aid team wishes you a Happy Mothers Day!