Form 1099-MISC Deadlines
As the end of the year approaches, we are reminding our readers about the filing deadlines related to IRS Form 1099-MISC. Different filing deadlines apply, depending on what type of income is being reported.
- Form 1099-MISC is to be filed with the IRS and the recipient on or before January 31, 2020, when reporting nonemployee compensation (NEC) payments in box 7 (this applies for both paper and electronic filing).
- If 1099 MISC is being filed and NEC is not reported, Copy B and Copy 2 of the 1099-MISC form are to be sent to the recipient by January 31, 2020.
- Copy A of the 1099-MISC form is to be filed with the IRS by February 28, 2020.
- Electronically filed forms are due March 31, 2020.
Most payments made by companies are reportable in box 7. Therefore, the best practice is to mail and file all 1099-MISC forms on January 31.
Extensions of time for filing 1099-MISC reporting NEC will be granted only in the event of a catastrophic event, fire, casualty, natural disaster, serious illness, or unavoidable absence of the individual responsible for the filing.