Senate Bill Would Move IRS 1099 E Filing Deadline to January 31

Recent legislation approved by the Senate Finance Committee in July aims to streamline IRS operations by advancing the electronic filing deadline for specific 1099s and related information returns.

Under the proposed changes, the IRS deadline for e-filing forms that report interest, dividends, Social Security benefits, and retirement distributions would shift from March 31 to January 31. Because financial institutions and payers are already required to distribute these documents to recipients by the end of January, this bill would simply align the agency's e-filing date with the existing taxpayer delivery deadline.

Make sure to consult a CPA if you have any questions regarding the new deadline.