In an effort to reduce the increase of identity theft plaguing the IRS, the IRS and State of Idaho have moved the deadline for filing both W-2 forms and 1099 forms up to January 31, 2017. The old deadline required the forms to be filed with the IRS and State by the end of February.

These forms have always been due to the individual payees by the end of January. But, there was no penalty for filing them late as long as they were sent into the IRS and State by the end of February.

Under these new deadlines, the penalties can be as high as $500 per form that is not timely filed.

Just as a reminder, the 1099s are required to be filed if your business pays an individual, an LLC, or a Partnership $600 or more for non-wage labor, rent, machine hire, repair work, or other types of services. If the payment was for services performed by a corporation, you do not need to send a 1099 to that corporation.

If we prepare these forms for you, we will need your information as soon as possible following the end of the year. Please have your information to us no later than January 20th so we can meet this deadline.

The information we need is the name, address, and Federal ID Number of the Business, or Social Security Number if paid to an individual, the amount paid, and what the payment was for (i.e. rent, repairs, labor, etc.).

If you have questions concerning this, or if we can be of help, please contact us.