1099 Penalty Information

Failure   to File 1099 Penalties
  Defined Per   Return Penalty Calendar-year   Maximum Calendar-year   Maximum Small Business
First Tier Filed   after deadline but not more than 30 days $50 $532,000 $186,000
Second Tier Filed   more than 30 days late but not before August 1 $100 $1,596,500 $532,000
Third Tier Not   filed before August 1 $260 $3,193,000 $1,064,000
Intentional   Disregard $530 per return; no limitation.
Note: A small business is a business filer with gross receipts of not more than $5 million.