Maryland Updates “Filing Requirements for 1099 Reporting” Webpage

Maryland's Comptroller's Office recently updated the "Filing Requirements for 1099 Reporting" webpage.  This page establishes that filers with 25 or more information returns must file magnetic media in IRS format, as referenced in IRS Publication 1220.  Failure to comply with the 1099 reporting rules will result in a penalty of $100 for each violation, along with a $100 penalty for each 1099 that is not properly filed.

 

To visit the webpage, please follow the link

Author

Nicolette Chasse

Nicolette Chasse is a Junior Regulatory Counsel at Sovos Compliance. Her main areas of focus are Automatic Exchange of Information (AEOI) reporting under FATCA and CRS and 1099 Federal Withholding Reporting. Nicolette received her B.A. at Trinity College and her J.D. at Penn State’s Dickinson School of Law. She is a member of the Massachusetts Bar.
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