The rates are:
- $20 per 1099 where a W9 and contact details exist
- hourly rates to chase down contractors for information and collect W9 information.
Remember, 1099s are required for contractors paid more than $600 for the year and that exist as a sole proprietor, partnership, LLC reporting as a partnership or sole proprietor or attorney's fees.
Penalties are $100 per 1099 filed late and the undue attention of the IRS and are due to be filed by Feb 2 2015.