1099 Form Changes This Tax Season

Employers need to take note of 1099 form changes regarding due dates. The team at Broussard Poché, LLP has outlined the changes below.

Previously, Forms W-2 and Forms 1099 were due to taxpayers on January 31st. Companies did have additional time to file with the IRS/SSA (February 28th if paper filed and March 31st if electronically filed).

But Starting this year:

  • Forms W-2 are due to the Social Security Administration by January 31st
  • Forms 1099-MISC that report non-employee compensation payments in box 7 are due to the Internal Revenue Service by January 31st.
  • Other Forms 1099 are still subject to the old due dates (February 28th if paper filed and March 31st if e-filed).

Form 8809 “Application for Extension of Time to File Information Returns” can be used to request an extension of time for filing Forms W-2 and 1099. The extension can be filed between January 1st and January 31st but there are a few things to keep in mind: 

  • W-2 extension requests do not get automatically granted and you must show that there are extenuating circumstances that prevent you from filing by the due date.
  • 1099-Misc extension requests are automatically granted for 30 days.  Another extension of 30 days can be requested but it is not automatically granted but there must be extenuating circumstances.

If employers have any questions about the changes, contact your tax professionals ASAP. The deadlines are approaching quickly.