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...
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