Is is too late to file 1099-misc as a payer for 2015, how can I create and file these forms through turbotax?

[moore-angelamari]

What are the penalties for filing 1099-misc late or not at all?

[HollyP]

No, you have missed the deadline, but you should still file as soon as possible. See this FAQ for instruction: https://ttlc.intuit.com/replies/3301452

People and companies that make payments of miscellaneous income to individuals must give the payee Form 1099-MISC by the end (in most cases) of February of the year following the tax year in which the income was paid. However, if the payment is for non-employee compensation to be shown in box 7 of Form 1099-MISC, then it is required to be filed by January 31st. For example, if you received miscellaneous income in 2015 that is non-employee compensation, the paying institution or individual must issue Form 1099-MISC by January 31, 2016. If the institution fails to do so, the penalty against the company varies from $30 to $100 per form ($500,000 maximum per year), depending on how long past the deadline the company issues the form. If a company intentionally disregards the requirement to provide a correct payee statement, it is subject to a minimum penalty of $250 per statement, with no maximum.