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Lesson 13: Forms 1099 and 1042-S Penalties. Failure to Furnish Correct Information Returns by the Due Date and Intentional Disregard

Lesson 13 continues our discussion on Form 1099 and 1042-S penalties with a focus on failure to furnish correct information returns by the due date and International Disregard This lesson walks through what happens to payors and withholding agents that do not furnish correct information returns to income recipients. It also discusses the potential penalties for each.