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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
‎October 11, 2020
5:58 PM