The IRS E-Filing Deadline for Forms 1099, 1098, and 1095 Approaches: TaxBandits Simplifies Last-Minute Filing
Employers, businesses, and tax professionals can now e-file 1099, 1098, and 1095 forms with TaxBandits to meet the IRS e-filing deadline. Filing on time ensures compliance and helps avoid costly penalties.
ROCK HILL, SC / ACCESS Newswire / March 28, 2025 / The IRS e-filing deadline for Forms 1099, 1098, and 1095 is March 31, 2025. Employers, businesses, and tax professionals must submit these forms on time to avoid significant penalties from the IRS.
TaxBandits offers an easy-to-use and secure platform to help businesses and tax professionals meet the filing deadline confidently and accurately.
Key IRS Forms Due by March 31, 2025
Compliance with IRS regulations requires businesses, employers, tax professionals, and insurers to e-file many tax forms by March 31, 2025. This includes:
1099-Series of Forms: This includes several 1099-series forms, such as 1099-MISC, 1099-INT, 1099-DIV, 1099-K, 1099-B, 1099-S, 1099-A, 1099-PATR, 1099-SA, 1099-OID, 1099-LTC, and 1099-QA, which report different types of income and transactions.
ACA Reporting Forms: ACA Forms 1095-B and 1095-C must be filed by applicable large employers and insurance providers to ensure compliance with the Affordable Care Act (ACA).
Other Required Forms: Other necessary filings include the 1098-series forms (1098, 1098-T, 1098-E, 1098-F), Forms 3921, 3922, and 8027.
Penalties for Missing the Deadline
Failure to meet the IRS e-filing deadline for Forms 1099, 1098, and 1095 can result in substantial penalties:
Form 1099 Penalties: Businesses face fines ranging from $60 to $660 per form, depending on how late the forms are filed. These penalties increase significantly if the forms are filed more than 30 days after the deadline.
ACA Form 1095 Penalties: For failing to file or providing incorrect information on ACA Forms 1095-C and 1095-B, businesses may incur penalties of $330 per return. The total penalty for a calendar year can reach up to $3,987,000 for large employers.
These penalties highlight the critical need to meet the e-filing deadline.
TaxBandits Offers Stress-Free Last-Minute Filing
TaxBandits offers a user-friendly platform for e-filing 1099, 1098, and ACA 1095 forms. Businesses can rely on TaxBandits' tailored solutions to easily meet the deadline.
Here's how TaxBandits simplifies last-minute filing:
Federal and State E-Filing: Clients can e-file forms effortlessly with both federal and state. TaxBandits also supports state-only ACA reporting.
Effortless Bulk Data Upload: TaxBandits enables seamless bulk data imports for tax forms through a standard CSV template or custom spreadsheet files. In addition, clients can use TaxBandits Excel templates to import ACA data.
Seamless Recipient Copy Distribution: Clients can deliver recipient copies via postal mail, online access, or both, ensuring secure and timely delivery.
Error-Free Filing with Built-In Checks: Built-in validation ensures accuracy by detecting and resolving errors before submission.
AI Assistance & World-Class Customer Support: BanditAI, the AI assistant, offers real-time guidance, while the support team is available via phone, email, and live chat.
Advanced Security Measures: As a SOC 2-certified company, TaxBandits prioritizes data security with top protection against breaches.
Exclusive Features for Tax Professionals
TaxBandits offers flexible solutions for CPAs, accounting firms, and enterprises. With a Pro Account, tax professionals can streamline workflows with time-saving features.
Secure Client Portal: Tax pros can enable their clients to review forms, communicate securely, and manage documents in a customized portal.
Team Management: TaxBandits provides the option to invite team members, assign roles such as preparer, approver, and transmitter, and delegate filings.
Detailed Reports: Obtain valuable insights from reports on filings, clients, and team performance to support informed decision-making.
Businesses, tax professionals, and service providers can easily e-file 1099-MISC, 1099-INT, 1099-DIV, 1099-K, 1098, ACA 1095, and many more tax forms at TaxBandits.com.
About TaxBandits
The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9, serving businesses, service providers, and tax professionals of every shape and size.
TaxBandits provides another advantage for high-volume filers and software providers. The TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms.
Headquartered in Rock Hill, South Carolina, SPAN has been developing industry-leading software tools for e-filing and business management tools for over a decade.
The SPAN Enterprises portfolio of products includes TaxBandits, ACAwise, ExpressExtension, 123PayStubs, TruckLogics, and WealthRabbit.
[email protected].
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Pasadena man faces prison after paying only $770 in taxes on $1M in income
A Pasadena man is facing up to three years in federal prison after he admitted to hiding his money so that he paid only $770 in taxes on about $1 million in income. Gabriel David Guerrero pleaded guilty on Monday to one count of corruptly obstructing or impeding, or endeavoring to obstruct or impede, the due administration of the Internal Revenue Code, the U.S. Department of Justice said in a news release. Guerrero, who is free on $50,000 bond, works as a commercial real estate broker and made about $1 million in the years 1998-99, 2001-05 and 2012-13, though he 'did not file timely federal individual income tax returns' for those first two periods, the release explained. For 2012-13, Guerrero owed additional taxes. For those years, the IRS sent him 'dozens of notices' in an attempt to collect what the agency was owed, though Guerrero 'took steps to conceal his income and assets from the IRS.' 'For example, he made extensive use of cash and cashier's checks; submitted a false form to the IRS that significantly understated his income; and used a nominee bank account to deposit income,' the DOJ said. For years, his scheme was able to keep tax collectors at bay. 'Despite the IRS's issuance of dozens of levies to bank accounts and brokers with whom Guerrero worked throughout the collection action from October 2013 to November 2017, the IRS obtained only $770 towards Guerrero's tax liabilities for 1998, 1999, 2001 through 2005, 2012, and 2013 despite Guerrero earning approximately $1 million in income from his work as a commercial real estate broker over that same time frame,' the DOJ said. He's scheduled to be sentenced on Sept. 15, and he faces a maximum of three years in federal prison. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
4 hours ago
- CBS News
IRS quiet on payment processing delays despite more reports of bills being sent for taxes paid
IRS quiet on payment processing delays despite more reports of bills sent for taxes paid IRS quiet on payment processing delays despite more reports of bills sent for taxes paid IRS quiet on payment processing delays despite more reports of bills sent for taxes paid Despite continuing reports of taxpayers receiving bills from the IRS for taxes they already paid on time, the agency has remained quiet about the problem and when it could be resolved. CBS News Chicago has been checking in daily with the IRS for the past week about the processing delays as more people say they are getting IRS notices. Jasmine Walton and her family had to pay $7,000 in taxes this year. It was a painful bill to deal with once, but twice? "I will tell you, initially it sent us into a little bit of a panic," she said. "We are counting every penny that leaves our household, so to tell us we owe additional thousands on top of thousands we've paid already? It almost sent us into a tizzy." Adding insult to injury, the bill the Waltons got from the IRS already had penalties and fines tacked onto it, even though they paid what they owed before the April 15 deadline and the money hasn't been in their account since. "Watching that news segment and finding out we were not alone did give us some resolve," Walton said. Like so many others we've heard from since first exposing this IRS issue last week, Walton learned she was part of a bigger problem through CBS News Chicago reporting. An IRS agent told our producer, who was also impacted by the mistake, their electronic payment system I experiencing delays processing money sent in by April 15. They said they should be caught up by June 29, and made assurances penalties and interest would be erased. But why is this happening, and for transparency's sake, why isn't the information being shared directly from the IRS online? "Update your website," Walton said. "It takes a marginal amount of time to put a nice banner up there saying we are behind you may receive communication in error." An Inspector General for Tax Inspection report released this spring detailed an 11% reduction of staff at the IRS, with about 7,000 of those workers being probationary and thus possibly have had their jobs restored. But despite asking the IRS about that, we have yet to receive any clarification. "My ask is for them to fix it," Walton said. We were originally told the IRS would "hopefully" have information to share last Wednesday, but nothing has been sent to us since. CBS News Chicago talked with an IRS spokesperson by phone Tuesday and they told us they're still working on a response to our questions and requests. They have not provided a timeline for when those responses would be ready. We asked U.S. Sen. Tammy Duckworth (D-Illinois ) if she has heard from her constituents about this issue and she responded with a statement, writing, "My office has seen increased response times from federal agencies like the IRS for months now – and thanks to the effects of unnecessary and damaging DOGE cuts, it's likely to only get worse in the years to come. If Illinoisans are having issues with a federal agency like IRS, I urge them to contact my office so we can help them get the money they're owed or reverse any unfair penalties caused by these delays."
Yahoo
5 hours ago
- Yahoo
Cynthia Lummis slams 'flawed' tax rules
Cynthia Lummis slams 'flawed' tax rules originally appeared on TheStreet. Sen. Cynthia Lummis (R-WY) thinks crypto assets, including Bitcoin, are being unfairly targeted because of "flawed tax rules." Lummis wrote on X on June 10: We need crypto revisions in reconciliation. Lummis is a well-known crypto advocate in the U.S. political space who famously introduced the BITCOIN Act that aims to turn Trump's executive order to establish a strategic Bitcoin reserve into legislation. Her latest salvo against crypto tax policy is part of the broader pro-crypto policy pursued by the Trump administration. In the U.S., the Internal Revenue Service (IRS) treats cryptocurrencies as property for tax purposes. Every crypto transaction, if it incurs gains, is taxed as capital gains by the IRS. While the short-term crypto capital gains tax ranges from 10% to 37%, the long-term crypto capital gains tax is 0%, 15%, or 20%. Earlier in May, Sen. Lummis proposed re-examining how the 2022 Corporate Alternative Minimum Tax (CAMT) from the Biden era applied to digital asset holdings, forcing crypto companies to pay taxes on unrealized crypto gains. However, the Wyoming senator has also taken a step in the direction of rescinding the exemption of the wash sale rule to crypto assets. What a wash sale means is that if you believe your crypto holding which has gone down in value will surge later, you can sell it for a loss during a financial year and again purchase it during the beginning of the next financial year. Since the IRS doesn't view crypto as security, the wash sale rule doesn't apply to it. But Lummis recently made an effort to the upcoming tax-and-spending bill to apply the wash-sale rule to crypto. The proposal also urged exempting Bitcoin miners from reporting gains and losses. Crypto tax reporting remains a complex issue in the U.S. and the world, and the evolving status of the crypto assets makes it more complicated. Cynthia Lummis slams 'flawed' tax rules first appeared on TheStreet on Jun 10, 2025 This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
