Business & farm

By the way there is a new 1099 form for 2020.  Instead of 1099Misc it is a 1099 NEC for non employee compensation.  https://www.irs.gov/pub/irs-pdf/f1099nec.pdf 

 

When you file your tax return if you have a penalty you can try to reduce or eliminate it by filling out form 2210.  Have you seen that one?  You will need to scroll down and use page 3 or 4,

https://www.irs.gov/pub/irs-pdf/f2210.pdf 

 

Instructions  https://www.irs.gov/pub/irs-pdf/i2210.pdf