IRS Filing Extensions for Forms 1099, 1042, and 1042-S: Key Updates for 2025
With deadlines for information returns approaching, businesses need to stay current on IRS information reporting requirements for Forms 1099, 1042, and 1042-S. Below are critical deadlines and compliance rules every filer should know.
General Reminders
Electronic Filing: If you submit ten or more information returns in aggregate, including all listed types, you must e-file unless a valid exception applies. For example, issuing five Forms 1099-MISC and five Forms W-2 triggers mandatory e-filing for all returns.
For Form 1042, this e-file rule applies, though the IRS has waived it for the prior two years. For 2025 returns, it is not yet clear if this waiver will extend.
Extensions for Recipients: Request extensions to furnish recipient copies by faxing Form 15397 to the IRS. Form 8809 is only for extensions for filing directly to the IRS and does not cover extensions to recipients.
System Access: Ensure access to IRS platforms - FIRE or IRIS - and confirm your Transmitter Control Code (TCC) is active. 2025 is the last year for FIRE; the system will be retired for the 2026 tax filing season, thus a TCC for IRIS will be required for filing the 2026 returns.
Form 1042 must be filed via the Modernized e-File (MeF) platform, Not FIRE and IRIS.
Due Dates
Forms 1099 (Filings to IRS):
Paper returns: March 2, 2026 – typically due February 28th (where allowed in place of electronic filing)
E-file returns: March 31, 2026
Form 1099-NEC: February 2, 2026 (Due to the fact that January 31, 2026 falls on a weekend)
Extensions (Filings to IRS):
Automatic 30-day extension via Form 8809 submitted by February 2, 2026; request may be submitted via paper or electronically through FIRE or IRIS with a TCC.
Note: No automatic extension for Form 1099-NEC; further extension requires a signed Form 8809 mailed with qualifying reason provided on line 7.
Additional extensions, beyond the automatic extension, may be requested with a signed Form 8809, citing specific criteria on Line 7. This must be mailed in.
Forms 1099 (Furnishing to Recipients):
Automatic 30-day extension possible via Form 15397 sent by fax to the IRS, with a required explanation.
Form 1042-S (Filings to IRS and Recipients):
Due March 15, 2026.
Automatic 30-day extension is available via Form 8809 by March 15, 2026, to the IRS.
The form can be submitted via FIRE or IRIS with a TCC as an alternative to mailing.
Additional 30-day extension requires paper submission and justified reason.
Extension for the recipient requires a Form 15397 sent by fax to the IRS, with a required extension.
Form 1042 (Annual Return):
File by March 15, 2026.
Request 6-month extension with Form 7004.
Note: estimated taxes are due by the original deadline.
Penalties
Failure to File: Penalties depend on lateness:
$60 per form if filed late (within 30 days).
$130 per form if more than 30 days late (filed by August 1).
$340 per form for filings after August 1 or not filed at all.
Intentional disregard: minimum of $680 per form.
Incorrect Filing: Errors or missing statements trigger penalties of $340 per statement, with higher penalties for intentional violations.
Recipient Statement Penalties: Separate penalties apply for late or incorrect payee statements.
Tips for Compliance
Submit extension requests early—Form 8809 for IRS filing delays, Form 15397 for recipient delays.
Carefully track deadlines, as late filings result in substantial penalties.
Prepare for 2026: FIRE system will be retired; IRIS will be required for most electronic filings.
Stay up to date on IRS guidance, thresholds, and mandatory e-file rules as they evolve.
Remaining focused on process management and regulatory updates is essential for avoiding costly penalties and adapting to IRS system changes in 2026.
* The information in this document is provided for general guidance only and does not constitute accounting, tax, or other professional advice. It is accurate as of the publication date and may not reflect subsequent regulatory updates.
