If you’re a small business owner, I highly recommend you read “Small business alert: Beware of stiff penalties for failing to file information returns” by Bill Bischoff.
Don’t get hit by costly U.S. Internal Revenue Service (IRS) penalties for failing to timely file information returns or provide requisite financial statements to third parties. As explained in Bischoff’s article, this includes W-2s, 1099s, K-1s and other IRS forms.
