Donavan is self-employed and files schedule

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Donavan is self-employed and files a Schedule C (Form 1040), Profit or Loss From Business. He paid three independent contractors more than $600 during 2022 for their services. He failed to provide Form 1099-NEC to them before February 1, 2023, but he did provide the forms before February 28, 2023. What is his penalty for failure to furnish information returns? $50 $110 $150 $580.

Reference no: EM134045506

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