New IRS Deadline to Send 1099s

Why the Change?

In December President Obama signed into effect The Protecting Americans from Tax Hikes (PATH) Act of 2015. This act revises the filing deadline for Form W-2 and certain types of Form 1099.

What Changed?

Beginning with 2016 forms, the deadline for Employers for all Federal W-2s is January 31. This applies whether filing paper or electronic returns, and is true for both agency and employee copies.

What about Form 1099-Misc?

The new January 31 deadline applies to certain types of 1099s. Form 1099-Misc with a reported amounts in Box 7: Nonemployee Compensation, will need to meet the new filing deadline of January 31.

If Box 7 is empty, then the paper filings deadline remains February 28,or March 31 for electronic filings.

 Impact for Employers

Employers should be well prepared to complete year-end tasks for the new deadline:

  • Verify accuracy of employee data
  • Reporting of any year-end adjustments
  • Review year-end totals for discrepancies

Have Questions?

If you have any questions about IRS deadline changes for W-2 & 1099 filings, or any other tax issues, please contact us today to schedule an appointment!