The W-2 year-end process is burdensome enough. The last thing you need to worry about is filing Forms 1099-MISC for your independent contractors. Good news: The IRS has yet to issue final regulations restricting the circumstances under which you may apply for an extension of time to file. Upshot: For 2017 1099s, you may continue to apply for one automatic 30-day extension of time to file and another 30-day for-cause extension.
Get those due dates right. If you’re reporting nonemployee compensation in Box 7 of Form 1099-MISC, you must provide payees with their copies, and file those forms with the IRS, by Jan. 31, 2018. This due date applies regardless of whether you file on paper or electronically.
If you’re filing 1099-MISC forms to report payments in any other box, or you’re filing other 1099s, the traditional due dates apply—provide payees with their copies by Jan. 31, 2018 (Feb. 15, 2018, if you’re reporting ...(register to read more)