Tax season is in full swing, and March 2025 is crunch time for businesses navigating IRS e-filing deadlines. With various tax forms due—including 1099s, ACA health coverage reporting, and 1042-S filings—this is the moment to ensure all your paperwork is in order. Missing a deadline could mean penalties, so staying ahead of the game is key. Let’s break down what you need to file and when to avoid any last-minute stress.
March E-filing Deadlines 2025– Timeline
📅 March 3, 2025
ACA Forms: Deadline to distribute employee copies of 1095-B/C.
📅 March 17, 2025
1042 Forms:
- Deadline to E-file Form 1042 with the IRS.
- Deadline to request an extension for 1042-S forms.
- Deadline for recipient copy distribution & electronic filing of 1042-S with the IRS.
📅 March 17, 2025
FinCEN BOI Forms: New deadline for BOI reporting.
📅 March 31, 2025
- ACA Forms: Deadline to E-file ACA Form 1095-B/C with the IRS.
- 1099 Forms: Deadline to E-file Form 1099-MISC, 1099-INT, DIV, R, C, K, G, PATR with the IRS.
- 1098 Forms: Deadline to E-file Form 1098-T with the IRS.
- Extension Forms: Deadline to request an extension for Form W-2G, 1097, 1098, 1099, 3921 & 3922
1099 E-Filing Deadlines for Tax Year 2024
Businesses must file various 1099 forms to report non-employee compensation, financial transactions, and other income. While the e-filing deadline for 1099-NEC (Non-Employee Compensation) is January 31, 2025, most electronic 1099 filings are due by March 31, 2025. This includes:
- 1099-A: Acquisition or Abandonment of Secured Property
- 1099-B: Proceeds from Broker and Barter Exchange Transactions
- 1099-C: Cancellation of Debt
- 1099-DIV: Dividends and Distributions
- 1099-G: Certain Government Payments
- 1099-INT: Interest Income
- 1099-K: Payment Card and Third-Party Network Transactions
- 1099-LTC: Long-Term Care and Accelerated Death Benefits
- 1099-PATR: Patronage Dividends
- 1099-R: Distributions from Pensions, Annuities, and other Retirement Accounts
- 1099-S: Proceeds from Real Estate Transactions
- 1099-SA: Distributions from an HSA
- 1099-MISC: Miscellaneous Information, including rents and royalties
- 1099-OID: Original Issue Discount
- 1099-Q: Payments from Qualified Education Programs
- 1099-H: Health Coverage Tax Credit (HCTC) Advance Payments
- 1099-LS: Reportable Life Insurance Sale
- 1099-QA: Distributions from ABLE Accounts
- 1099-SB: Seller’s Investment in Life Insurance Contract
Important Filing Considerations
- Recipient Copy Deadline: Although the IRS allows e-filing until March 31, 2025, businesses must ensure that recipients receive their copies of most 1099 forms by January 31, 2025.
- IRS Penalties for Late Filing: Failure to e-file by the deadline may result in penalties based on the lateness of the filing, which can range from $50 to $290 per form, depending on when the form is submitted.
- State Filing Requirements: Some states have additional reporting requirements, so businesses should verify their obligations beyond federal filing.
Form 1042 E-Filing Deadline 2025
The e-filing deadline for Forms 1042-S and 1042 is March 15 of each year. Form 1042-S reports income subject to withholding under U.S. tax laws, while Form 1042 is used by withholding agents to report tax withheld on payments to foreign persons. To avoid penalties, ensure accurate filing by the due date. If needed, filers can request an extension using Form 8809 for Form 1042-S and Form 7004 for Form 1042.
Here is a table outlining the e-filing deadlines for Forms 1042-S and 1042:
|
Form |
Description | E-Filing Deadline | Extension Form |
|
1042-S |
Reports income subject to U.S. withholding tax | March 15 |
Form 8809 |
| 1042 | Reports tax withheld on payments to foreign persons | March 15 |
Form 7004 |
Don’t wait for the last day to file your tax forms!
Organize and verify data early, starting with obtaining a completed W-9 from every independent contractor, freelancer, or vendor before making payments. Also, maintain a digital record of all payments and tax documents to avoid scrambling for information at year-end.
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