Form 1099-NEC Late
Filing Penalty

This article covers the following topics:

E-File Form 1099-NEC Now
Form 1099-NEC Late Filing Penalty

Penalties for failing to file Form 1099-NEC

Updated on December 31, 2020 - 10:30 AM by Admin, ExpressEfile

The IRS introduced a new form,
Form 1099-NEC, to report nonemployee compensation from the 2020 tax year. Payers who have paid at least $600 as compensation to contractors or nonemployees must file this form. Missing to file the return may result
in penalties

Read on to learn more about Form 1099-NEC penalties and how to
avoid it.