2025 IRS Filing Deadlines for 1099, W-2, 940, 941 & 1095 Forms

E-filing Threshold

The IRS has lowered the e-filing threshold from 250 returns to 10 or more 1099 aggregate returns. This change is effective for returns filed on or after January 1, 2024, promoting more electronic filing for increased efficiency.

1099-K (Payment Card & Third Party Network Transactions)

A significant change was anticipated to take effect from January 2023, requiring third-party network transactions such as those through PayPal, Venmo, and Cash App to file Form 1099-K if the total transactions exceeded $600. However, the IRS has delayed this reporting threshold. As a result, there will be no changes in the previous year's threshold, and the third-party networks will continue to report the Form 1099-K if the gross transactions exceed $20,000 with 200 or more transactions.

Form 1099-NEC and 1099-MISC

There have been no significant changes to Form 1099-NEC and Form 1099-MISC for the 2023 tax year. These forms remain the same as the previous
tax year.

1099-PATR (Patronage Dividends)

Updates have been made to Form 1099-PATR, with a change to Continuous Use and instructions that remove references to specific years. Additionally, Box 12 has been updated to include information on the sustainable aviation fuel mixture credit.

New Extension Form to Request More Time for Recipient Copy Distribution in 2024

The IRS recently published a new Form 15397 in November 2023 which should now be used to request an extension of time to furnish recipient copies of information returns including forms 1099, W2, ACA, 5498, and other information returns. If you need an extension for filing 1099, W-2, and other information returns, you should file Form 8809.

Exceptions

• Both the recipient and IRS copy of the Form 1099-NEC should be before January 31, regardless of the filing methods.
• Recipient copy of Form 1099-MISC should be filed before February 15 If the payment is reported in Boxes 8 or 10 of Form 1099-MISC.
• TThe Recipient copies of Form 1099-R and Form 1099-B should be furnished on or before February 15.

Note: In case the deadline falls on a weekend or any public holiday. The deadline automatically moves to the next business day.

Form 1099-NEC (Nonemployee Compensation):

• Deadline for payers to provide to contractors: January 31st of the following tax year.
• Deadline for payers to file with the IRS: February 28th (paper filing) or March 31st (e-filing) of the following tax year.

It's important for 1099 contractors to receive this form by January 31st, as it reports their earnings and is used for tax reporting purposes.

Form 1099-MISC (Miscellaneous Income):

• Deadline for payers to provide to contractors: January 31st of the following tax year (if it includes nonemployee compensation).
• Deadline for payers to file with the IRS: February 28th (paper filing) or March 31st (e-filing) of the following tax year.

Form 1099-MISC was traditionally used to report various types of miscellaneous income received during the year, such as rental income, prices, rewards, health care payments, and more.

Form 1099-K (Payment Card and Third-Party Network Transactions):

• Deadline for payers to provide to contractors: January 31st of the following tax year.
• Deadline for payers to file with the IRS: February 28th (paper filing) or March 31st (e-filing) of the following tax year