Are there any penalties associated with Form 1099-LTC?
355 views |Last modified 12/1/2023 3:58:51 AM EST | Added by TaxBandits Team
The IRS may impose penalties on Form 1099-LTC for the following reasons:
- Failing to file before the deadline
- Intentionally disregard the requirement to file Form 1099-LTC
- Not using the correct copy of the Form 1099-LTC
- Not providing correct information
- Using the wrong tax year
- Filing incorrect or missing TIN
Therefore, it is important to submit your 1099-LTC tax form before the deadline to avoid IRS penalties that can range from $60 to $630 per form. Check relevant resources for details on associated penalties.
Need more help?
Get in touch with our dedicated support team Contact Us