After the deadline, but within 30 days
$60 per form
After 31 days - August 1st
$120 per form
After August 1st, or not at all
$310 per form
Intentionally not filing
$630 per form
1099 Forms › E-File Form 1099 NEC Online for 2022!
With the IRS reintroduction of Form 1099-NEC comes relearning how to file with the IRS and states. This guide will walk you through the process, providing information on the required details, available features, and how to ensure accuracy throughout the filing process.
Complete the Payer Details section. This includes:
Complete the Recipient Details section. This includes:
Purchasing any BoomTax package will give you everything you need to complete your filing.
Import many companies in one spreadsheet to simplify data input.
We validate your data against hundreds of IRS rules.
No IRS registration or testing required.
Make as many changes as needed for free.
Form 1099-NEC is used to report payments of $600 or more made to nonemployees. Previously, this was reported in box 7 of Form 1099-MISC. The IRS separated nonemployee compensation reporting by reintroducing Form 1099-NEC starting from the 2020 tax year. Payments included in Form 1099-NEC are:
The IRS mandates that payers (businesses or individuals) submit Form 1099-NEC under the following circumstances are met:
Payers, be sure to read our comprehensive guide on Form 1099-NEC for box-specific questions and details.
Note: If the filing deadline lands on a Saturday, Sunday, or legal holiday, the due date will automatically be extended to the following business day.
Visit our deadlines article to learn more about Form 1099 due dates.
Most states also have a filing deadline of January 31st, but some may vary. View our state deadlines post to learn more about the state filing deadlines.
Indeed, certain situations exempt you from submitting Form 1099-NEC. Filing Form 1099-NEC is not necessary under these conditions:
Failing to file Form 1099 by the deadline or meeting the deadline but providing incorrect recipient information can result in IRS penalties ranging from $60 to $630, depending on how late the form is submitted.
1099 penalties may be subject to the following:
The IRS is accustomed to changing rules year-to-year, sometimes even in the middle of the current tax season! This is why having the most accurate information about the IRS requirements and deadlines for filing any Form 1099 is essential. Use reliable tax software to e-file your forms and stay updated on any changes in regulations or deadlines.
Note: IRS recommends that payers utilize the e-file option over paper filing for faster processing.
Takes Only 30 Seconds
BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.