IRS Wage Statement and 1099-NEC Deadline: Submit by January 31
The IRS wage statement and 1099-NEC deadline is January 31, 2025. Employers and payers must file their wage statements and other information returns to avoid penalties and ensure compliance. Meeting this deadline helps businesses avoid fines and assists the IRS in verifying income to combat fraud.
For the full IRS announcement, visit the official IRS newsroom article.
Who Must File by January 31?
The January 31 deadline applies to:
- Employers filing Form W-2 (Wage and Tax Statement) and Form W-3 (Transmittal of Wage and Tax Statements) with the Social Security Administration (SSA).
- Payers filing Form 1099-NEC (Nonemployee Compensation) with the IRS.
- Employers and payers must also furnish copies of these forms to recipients by the same date.
E-Filing Requirements for 2025
Businesses filing 10 or more information returns must e-file instead of paper filing to streamline reporting and improve accuracy.
The IRS Information Returns Intake System (IRIS) provides a free and secure e-filing solution for 1099 forms. For more details, visit the E-file Information Returns page on IRS.gov.
Need More Time? Request an Extension
While employers and payers can request a 30-day extension, approvals are not automatic. To apply, submit:
Important: Filing Form 8809 does not extend the deadline for providing copies to employees or payees. These extension requests must be faxed separately to the IRS. More details can be found on the About Form 8809 page.
Avoid Penalties for Late or Incorrect Filings
Penalties may apply for:
- Late filings submitted after January 31.
- Errors or inaccuracies in forms.
- Improper submissions, such as failing to e-file when required.
For a breakdown of penalties, visit the Information Return Penalties page on IRS.gov.
Next Steps for Employers & Payers
- Prepare now to ensure all forms are accurate and submitted on time.
- Double-check recipient details to prevent corrections.
- Use the IRS e-filing tools to simplify the process.
For more resources, visit the Forms, Instructions, and Publications page at IRS.gov.
Need Help With Tax Compliance?
Navigating IRS deadlines and tax compliance can be challenging. If you need professional guidance, Torkelson & Associates CPAs, LLP is here to help. Contact us today for expert support in tax preparation and compliance.