The right way to Get an Extension on IRS 1099 Submitting


When are 1099s due?

All 1099-MISC types that report non-employee compensation (NEC) have to be despatched to each the recipient and the IRS by January 31. All different 1099s are due February 28 if filed on paper and April 1 if filed electronically. 

These early due dates are a fairly tall activity for a lot of companies and accounting companies. Fortunate for you, there’s reduction obtainable. Let’s check out how one can get a one- to two-month extension on submitting your 1099 with the IRS.

Automated extension for Type 1099

The IRS has offered a easy means for practitioners and enterprise homeowners to request an automated 30-day extension for 1099s. Automated on this case means the IRS will mechanically grant the 30-day extension whether it is requested.

An extension could be requested by filling out Type 8809 by the FIRE system or by manually finishing and mailing Type 8809. Extension requests for Type 1099 have to be postmarked by February 28 or filed electronically by March 31.

Be mindful, a Type 8809 is used to request a submitting extension with the IRS, however IRS Publication 1220 supplies data on methods to request a delivering extension for 1099s. 

Extra 30-day extension for Type 1099

In some circumstances, a further 30-day extension for submitting Type 1099 with the IRS could also be obtainable. In response to the directions on Type 8809, “In the event you obtain an automated extension, you might request one further extension of no more than 30 days by submitting a second Type 8809 earlier than the top of the primary extension interval.”

Requests for a further extension could also be granted if:

  • “The enterprise suffered a catastrophic occasion in a Presidentially Declared Catastrophe Space that made the enterprise unable to renew operations or made vital data unavailable.”
  • “Loss of life, critical sickness, or unavoidable absence of the person liable for submitting the knowledge returns affected the operation of the enterprise.”
  • “Hearth, casualty, or pure catastrophe affected the operation of the enterprise.”
  • “The enterprise was in its first 12 months of firm.”
  • “The enterprise didn’t obtain information on a payee assertion reminiscent of Schedule Ok-1, Type 1042-S, or the assertion of sick pay required underneath part 31.6051-3(a)(1) in time to organize an correct data return.” 

Extensions for 1099-MISC types reporting NEC

The IRS has eradicated the automated submitting extension for 1099-MISC reporting NEC. You possibly can nonetheless request an extension, nevertheless it will not be mechanically granted, and you’ll solely request one, no further extensions. You possibly can request an extension by filling out and mailing Type 8809. Extension requests for Type 1099-MISC have to be postmarked between January 1 and January 31. 

Like further extensions for different 1099s, requests for a submitting extension for 1099-MISC reporting  NEC will solely be granted in the event that they meet at the very least one of many 5 {qualifications} outlined within the part above.

As at all times, you might be liable for offering the mandatory documentation to show eligibility for the extra 30-day extension.

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