It’s a new year, which means a new filing season is among us. The first IRS deadline is for employers who file wage statements and/or 1099 forms, which must be done by Jan. 31, 2025. 

Note, businesses that file more than 10 W-2s and 1099s (in aggregate) for the year are required to electronically file all forms by Jan. 31, 2025. This new e-filing threshold became effective in 2024 as part of the Taxpayer First Act. 

The annual information returns deadline for the 2024 tax year are as follows:

• Most 1099 forms are due to recipients by Jan. 31, 2025.
• 1099 non-employee compensation forms are due to the IRS by Jan. 31, 2025.
• Other 1099 form types are due to the IRS by Feb. 28, 2025, if filing on paper, or Mar. 31, 2025, if filing electronically.

Please make sure to file your 1099 forms and distribute them to the payee by the appropriate deadlines, as penalties for not filing or filing late range from $50 to $550 per form. 

Here to Help

Our business tax pros can assist with your 1099 filing requirements, plus offer business tax compliance and advisory assistance for the upcoming filing season. Contact us today, we know the way.