1099 INT Form extension: Are you reporting the interest amount paid to the investors through 1099 INT tax Form? If your answer is “yes”, then file your 1099 INT Tax Form before the deadline. If you think that you require sufficient time to report the payments, then you can request an extension to file the Form with the IRS.
Doesn’t know about fling Federal Tax 1099 INT Form extension with the IRS? Then we’ll help you in filing an extension. We provide you information regarding how to get an extension on IRS 1099 INT Tax Form, when 1099 INT Taxes are due. Also, get information on automatic 30 days extension of 1099 INT Form, additional 30 days extension of 1099 INT.
How to get an extension on IRS 1099 INT Form?
You can get an initial and additional 30 days extension on IRS 1099 INT Form by providing a suitable cause. IRS mostly grants initial extension request for filing 1099 INT Tax Form. The additional 30 days extension is granted to the taxpayers whose business operation is affected due to serious cause. The taxpayer is responsible for providing the necessary documentation to prove eligibility criteria for the additional 30 days extension.
For information to request an extension to furnish the 1099 INT Form copy to the recipient by sending a letter to the IRS including payee name, address, TIN, type of return (1099 INT), reason for delay and signature of the payer.
When is 1099 INT Tax Forms Due?
All 1099 INT Forms that report interest paid to the investors must be sent to the IRS by March 31st, 2021 and to the recipient by February 1st, 2021. Paper filing 1099 INT Tax Form is due by March 1st, 2021 to the IRS.
Due to early due date to report 1099 INT to the recipient, this became a heavy task for many businesses and accounting firms. Let’s take a look about how you can get one-to-two months extension on filing your 1099 INT Form with the IRS.
Automatic extension for form 1099 INT
IRS has provided an easy way for business owners to request an automatic 30 days extension of 1099 INT Tax Form. Automatically means the IRS will automatically grant the 30 days extension on request of the taxpayers.
Extension request for Form 1099 INT must postmarked by March 1st or filed electronically by March 31st. File IRS Form 1099 on time.
Additional 30 days Extension for Form 1099 INT
In some conditions, an additional 30 days extension for filing 1099 INT Tax Form with the IRS may be available. According to the instructions on Form 8809, if IRS grants you automatic 30 days extension, you may request an additional extension of not more than 30 days by submitting a second Form 8809 before the end of the first extension period.
The request for additional extension of 1099 INT Tax Form may granted if:
- The individual person who is responsible to file the information returns is suffering with serious illness, unavoidable absence or died, which affected the operations of the business.
- Fire accident or natural disaster affected the operation of the business.
- The business was in its first year of establishment.
- The business did not receive data about payee information in time to prepare an accurate information return.
How to Request an 1099 INT Form extension?
If you cannot file 1099 INT Tax Form with the IRS by March 31st, 2021, you need to file for an extension. Extensions can be filed through paper forms or file 1099 electronically.
A signature or explanation required for the extension of 1099 INT Tax Form. However, you must file Form 8809 by the due date to get an 1099 INT Form extension.
Which Form used to extend 1099 INT Form Filing?
As soon as you know that a 30 days extension needed, file Form 8809 within the due date of 1099 INT Tax Form.
Form 8809 used to request an initial or additional extension of time to file 1099 Forms for the current tax year. The taxpayer who requires more time to file Form 1099 INT with the IRS should file Form 8809. It must file before the due date of the Form.
The taxpayer may face penalties for filing 1099 INT Tax Forms late. You haven’t applied for and received an IRS approved extension of time to file the Form.
1099 INT Form Online extension
Have you got the clear information about 1099 INT Form extension? Then you can submit the extension request online through the FIRE system. You encouraged to submit the requests using the online fillable form.