What are the penalties for failing to file Form 1099-NEC?
946 views | Last modified 1/6/2021 9:55:47 AM EST | Added by ExpressEfile Team

Penalties will be imposed when you file Form 1099-NEC late or when statements are inaccurate or incomplete.

The following are the penalty rates based on how late you file the return: 

If you file Form 1099-NEC after the deadline Within 30 days More than 30 days, but before August 1 After August 1
$50 per information return $110 per information return $280 per information return

For small businesses with an average annual gross receipt for the 3 most recent tax years of $5 million or less, there will be lower maximum penalties

E-file Form 1099-NEC through ExpressEfile before the deadline and avoid penalties.

Was this helpful? Yes No

E-File Form W-2, 1099-NEC/MISC, 940, 941, 941-X & 2290
using ExpressEfile

Register Now

Returning User? Sign in

Couldn't find what you
are looking for?

Contact Us