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Knowledgebase: IRS Tax Reporting
IRS - Penalties for Incorrect or Not Filing
Posted by Bruce Kamm on February 27 2010 08:09 AM
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Penalty for Not Filing or Filing Incorrect Forms 1099-BFailure to file Forms 1099-B can result in significant penalties under Internal Revenue Code Section 6721. The penalty is based on when correct information returns are filed. The penalties are:
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