The IRS has drastically changed the filing requirements for Form 1099s starting January 2024. The IRS originally required the forms to be electronically filed if filing over 250 information returns. Starting in January, the filing requirement will be 10 returns. This number would combine Forms W-2 and 1099s.

The people who want your taxes, the IRS, have ways to ensure you are able to pay and offer avenues for avoiding penalties depending on your circumstances. However, even if you manage to dodge the penalties, you should always pay your taxes as soon as possible, as the longer you wait the worse things can get.