Penalty for late filing of 1099 forms – updated from 2016 tax year

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Large Businesses with Gross Receipts of More Than $5 Million and Governmental Entities
Time returns filed/furnished Returns due 01-01-2011 thru 12-31-2015 Returns due 01-01-16 thru 12-31-2016 Returns due 01-01-17 thru 12-31-2017
Not more than 30 days late
(by March 30 if the due date is February 28)
$30 per return/
$250,000 maximum
$50 per return/
$529,500* maximum
$50 per return/
$532,000* maximum
31 days late – August 1 $60 per return/
$500,000 maximum
$100 per return/
$1,589,000* maximum
$100 per return/
$1,596,500* maximum
After August 1 or Not At All $100 per return/
$1,500,000 maximum
$260* per return/
$3,178,500* maximum
$260 per return/
$3,193,000* maximum
Intentional Disregard $250 per return/
No limitation
$520* per return/
No limitation
$530* per return/
No limitation

 

Small Businesses with Gross Receipts $5 Million or Less
Time returns filed/furnished Returns due 01-01-2011 thru 12-31-2015 Returns due 01-01-16 thru 12-31-2016 Returns due 01-01-17 thru 12-31-2017
Not more than 30 days late
(by March 30 if the due date is February 28)
$30 per return/
$75,000 maximum
$50 per return/
$185,000* maximum
$50 per return/
$186,000* maximum
31 days late – August 1 $60 per return/
$200,000 maximum
$100 per return/
$529,500* maximum
$100 per return/
$532,000* maximum
After August 1 or Not At All $100 per return/
$500,000 maximum
$260* per return/
$1,059,500* maximum
$260 per return/
$1,064,000* maximum
Intentional Disregard $250 per return/
No limitation
$520* per return/
No limitation
$530* per return/
No limitation

 

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