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Issue Number: Tax Tip 2022-05
Mark the calendar: Important backup withholding deadlines
Some businesses and other payers take backup withholding from payments they made to certain people. These entities should remember their upcoming filing deadlines.
What is backup withholding?
Form 945, Annual Return of Withheld Federal Income Tax
These information returns are:
Except for Form 1099-NEC, information returns generally must be filed with the IRS on or before Monday, February 28, 2022, for paper filers and Thursday, March 31, 2022, for electronic filers. Taxpayers should review Publication 1220 for help electronically filing information returns.
1099-MISC and nonemployee compensation
A Form 1099-MISC has two possible due dates when filed electronically:
The payer should separate the transmission of nonemployee compensation from other payments.
Information return filing extensions
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