Quickly and easily e-file your State 1099 Forms along with any State Recon/Transmittal Forms that you may need.
TaxBandits delivers your recipient copies by postal mail.
Do you have the 1099 data in FIRE file format? We e-file your Form 1099 and mail the copies to your recipient.
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Are you ready to file your 1099-INT? Get started with your free TaxBandits account!
Form 1099-INT is a type of information return filed by payers of interest income of amount $10 or more (such as banks, financial institutions, mutual fund institutions, savings institutions, and government institutions). This form is also used to report other tax items related to your interest income, such as early withdrawal penalties, tax-exempt interest, market discount, and federal tax withheld. The filers of Form 1099-INT are also responsible for issuing copies to the recipient. To know more about 1099-INT, visit irs.gov.
January 31, 2020 is the due date to distribute copies of Form 1099-INT to the recipient. If you choose to file by paper, then the deadline is March 2, 2020 for the 2019 Tax Year. The Form 1099-INT electronic filing deadline is on March 31, 2020.
Depends on your state requirements, you may need to file Form 1099-INT to the applicable state department, along with any additional information required by the state. Check your state filing requirements.
If the IRS rejected your 1099-INT return, or you notice any error on an already-filed return, you'll need to correct the errors as soon as possible and file the corrected return again with the IRS. A corrected copy of Form 1099-INT also needs to be sent to the recipient if the error is a part of the recipient’s information. Learn More to know about Form 1099-INT correction.
If you have missed the 1099-INT filing deadline, failed to file with the proper information, or filed your form on paper when you were required to file it electronically, you may be penalized by the IRS. Penalty amounts are based on the size of the organization and the date the form is actually filed. Penalty fees range from $50 to $536,000. Click here to know about Penalties.
If you’re unable to file Form 1099-INT on time, you can apply for an automatic 30-day extension of time to file by completing Form 8809 by your original due date. E-file and receive an approval within an hour. Learn More about Form 1099 Extensions.
If you found any errors after filing your 1099 return with the IRS, correct the information as soon as possible and submit the corrected form and Form 1096 to the IRS.
A penalty will be charged if you fail to issue Form 1099 to the payee. The amount of the penalty is based on when you file the correct information return.