What happens if I miss the January 31 tax filing deadline for W-2 and 1099-NEC?

Penalties start per return and rise with time. The IRS sets tiers based on how late you file and furnish. Intentional disregard can be up to $680 per return. File and correct fast to reduce costs, and document everything to support possible relief.

Does a Form 8809 extension cover W-2 or 1099-NEC?

There is no automatic extension for W-2, and 1099-NEC is not eligible for an automatic extension. A non-automatic Form 8809 extension for 1099-NEC may be granted only for specific hardship reasons. File before the due date and keep your submission receipt.

How do I correct a wrong SSN or wage amount on a W-2?

File Form W-2C and the summary Form W-3C with the SSA, then give employees corrected copies. Use BSO to e-file, keep proof of filing and delivery, and update payroll records. Quick corrections can limit penalties tied to late or inaccurate information returns.

Can I reduce IRS penalties after missing the deadline?

Often yes. File and furnish as soon as possible to drop into lower penalty tiers. If you qualify, ask for first-time abatement. If events were outside your control, request reasonable cause relief with documentation. Set up a payment plan if you cannot pay in full.

What should small businesses do first after realizing they are late?

List every missing or incorrect form, then file or correct in order of impact. Verify TINs, amounts, and addresses. Issue recipient copies, then track confirmations. Estimate penalty exposure, set a cash reserve, and prepare to request relief if you meet first-time or reasonable cause criteria.

Global Market Insights

IRS Tax Filing Deadline Missed? Penalties and Fixes Explained – February 04

ByHuzaifa Zahoor February 5, 2026

The tax filing deadline for W-2, W-3, and 1099-NEC was January 31. If you missed it, penalties start now and rise the longer you wait, with intentional disregard up to $680 per return. We explain what missing the tax filing deadline means, how to fix errors fast, when a Form 8809 extension applies, and how to manage cash flow. These steps help small businesses limit costs and avoid IRS notices in the coming weeks.