I have an S Corporation. The only person that receives a 1099 misc from me is my husband. I realized today that the Feb. 28 deadline was changed to Jan. 31, so I am late.

[jeanne2121]

At this time, I have not filed the 1096 information return with the IRS. I am currently less than 30 days late. What should I do now? Will I be penalized?

[MinhT · Accepted solution]

You should file immediately the form 1099-MISC together with form 1096.

The penalty is $50 per return for filing up to 30 days late. It is increased to $100 per return from 31 days late up to August1.

Please read this IRS document for more information:

https://www.irs.gov/government-entities/federal-state-local-governments/increase-in-information-retu...

[jeanne2121]

Thank You! I am not happy about the penalty, but at least it is something I can resolve. I assume the IRS will notify me of the penalty once they receive the late 1096.

[MinhT]

Yes, you are correct.

[jeanne2121]

Thanks again!