W2 & 1099 Deadline and Penalties

W-2 Deadlines for 2019

The following table will help you to remember all the W-2 deadlines for sending W-2 forms to the employees and for paper filing or e-filing them with the SSA.

Form W-2Deadline
Issuing W-2 Forms to the employeesJanuary 31, 2020
Filing to SSA by MailJanuary 31, 2020
Filing to SSA ElectronicallyJanuary 31, 2020

W-2 Penalties for Late Filing for Small Businesses

It’s important for the employers to send W-2s to their employees and file them to SSA before the W-2 deadline otherwise heavy penalties for late submissions or wrong information will be imposed.

The penalties range from $50-$530 per missed W-2 tax form, depending on how late the forms were submitted.

W-2 PenaltiesLength of Delay
$50 per return/$187,500 maximumIf you file the correct form within 30 days of the due date
$110 per return/$536,000 maximumIf you file between 31 days of the due date and August 1
$270 per return/$1,072,500 maximumFiling on or after August 1st, 2020
$550 per return/No limitationIntentionally neglecting to file

1099 Deadlines for 2019

The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation. The filing due date for other Forms 1099 & 1096 remains February 28th, 2020 if filing by paper, and March 31st, 2020 if filed electronically.

Form1099 Due Date to RecipientsFiling to IRS By MailE-Filing to IRS
1099-MISC (NEC Only)January 31, 2020January 31, 2020January 31, 2020
1099-MISC (Other Forms)January 31, 2020February 28, 2020March 31, 2020
1099-DIVJanuary 31, 2020February 28, 2020March 31, 2020
1099-INTJanuary 31, 2020February 28, 2020March 31, 2020
1099-RJanuary 31, 2020February 28, 2020March 31, 2020

Penalties for Late Filing

The penalties range from $50-$550 per missed 1099 tax form, depending on how late the forms were submitted.