When are 1099 mailed out

The IRS requires that Form 1099-MISC, Miscellaneous Income, be mailed to recipients by January 31st of each year. This form reports various types of income, such as:

• Rent and royalty payments
• Prizes and awards
• Other income payments
• Non-employee compensation (e.g., freelance work, independent contractor services)

The deadline for filing Form 1099-MISC with the IRS is also January 31st. This means that both the recipient and the IRS should receive the form by this date.

Here's a breakdown of the key deadlines:

• January 31st: Mailing deadline for Form 1099-MISC to recipients
• January 31st: Filing deadline for Form 1099-MISC with the IRS

Keep in mind that these deadlines apply to calendar-year filers. If you're a fiscal-year filer, your deadlines may be different.

It's essential to note that the IRS may impose penalties for late filing or failure to file Form 1099-MISC. Therefore, it's crucial to ensure timely compliance with these deadlines to avoid any potential issues.