Tennessee requires businesses that file a 1099-K with the IRS to also submit a copy to the Tennessee Department of Revenue. The state does not participate in the Combined Federal/State Filing (CFSF) program, so businesses must file their 1099-K forms separately and electronically with Tennessee.
Key Details on Tennessee 1099-K Reporting:
- Who Must File?
- Payment settlement entities, third-party settlement organizations, electronic payment facilitators, and other entities required to file a federal 1099-K must file with Tennessee.
- Deadline:
- Tennessee requires 1099-K forms to be submitted within 30 days of the IRS due date.
- Penalties:
- A failure to file may result in a $1,000 per failure per month penalty, up to $10,000 annually.
- How to File:
- Forms must be submitted electronically through the Tennessee Department of Revenue’s online system.
We can electronically file on your behalf. Just contact 1099FIRE at (480) 706-6474.
