Are there any penalties associated with Form 1099-PATR?

Yes, penalties can be associated with Form 1099-PATR if the form is not filed accurately or on time. The penalties for failure to file or furnish a correct and timely Form 1099-PATR can range from $60 to $660 per form, based on the business size and when you file the return.

Penalties can vary based on business size. Click here to learn more about the penalties.