If you fail to file a 1099-MISC form by the due date, you may be subject to a penalty, based on the lateness: If you correctly file within 30 days, the penalty is $30; $60 per return if you file more than 30 days late but by August 1, and $100 per return if you file after August 1 or you don't file at all.
Please click the link below for details:
https://www.irs.gov/government-entities/federal-state-local-governments/increase-in-information-retu...