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Hi and welcome to Just Answer!Yes - you may issue 1099 forms late. Please be aware that recipients are required to report their income regardless if the form 1099 was issued or not.The IRS generally charges a penalty for late filing. If the Form 1099 submitted within 30 days from the due date - the penalty is $30 per form. If submitted before Aug 1 of following year - $60 per form. After that - the penalty is $100.
ok, but how to do that ? i cannot find that type of red ink form anymore
You may request forms from the IRS - call 1-800-829-3676 to place your order.
Also - most print centers will be able to print old forms on demand. For instance - visit a local store:www.officemax.com/ or www.officedepot.com/
ah, ok thanks
Do i include the penalty when i file the belated 1099 or wait for the notice from the Irs ?