Reminder: Don’t forget January 31, 2019 is the deadline to file your information returns to avoid the late filing penalty. Also, distribute the forms to the recipients so they can file their tax returns.
These forms must be submitted to the proper federal agency: (Social Security Administration (SSA) for W-2 forms and the IRS for 1099-MISC forms). The filing deadlines have been moved up in order to better monitor forms for tax fraud. The deadline is the same for all filings, including e-filing.
Easily File and Deliver 1099 and W-2 Forms Online with Efile4Biz. Efile4Biz also integrates with QuickBooks Online Plus, so you can quickly import your vendor data, complete 1099 forms and electronically file your data.
If you have QuickBooks Full Service or Self Service Payroll you can create W2 and 1099 forms from QuickBooks to print or efile.
What If I Don’t E-File When I’m Supposed to?
Failing to follow the law for e-filing large batches of W-2 forms and for failing to e-file all 1099 forms means fines and penalties. As of 2018, the fines for failing to e-file when required are between $50 and $260 for each form not e-filed. The fine increases with the lateness of the filing.
Resources
- IRS Order Information Return Forms
- IRS Information Return Reporting Requirements
- Filing Information Returns Electronically (FIRE) – IRS system
- Business Services Online (BSO) – SSA system
January 31st Important Tax Deadlines
- Individuals
- If estimated tax payments are required: If you didn’t pay your last installment of estimated tax by January 15, you may choose (but aren’t required) to file your income tax return (Form 1040) for 2018 by January 31. Filing your return and paying any tax due by January 31 prevents any penalty for late payment of the last installment. If you can’t file and pay your tax by January 31, file and pay your tax by April 15 (April 17 if you live in Maine or Massachusetts).
- Businesses
- You must send W-2 forms to employees and 1099-MISC forms to non-employees. If an employee agreed to receive Form W-2 electronically, have it posted on a website and notify the employee of the posting.
- You must submit all W-2s, with transmittal W-3, to the Social Security Administration, including e-filing for 250 or more W-2s.
- You must submit all 1099 forms, including Form 1099-MISC, along with a transmittal form 1096, to the IRS, including filing electronically.
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