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
