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Late Filing Penalties
 
Days Late Current Penalty Old Penalty Older Penalty Current Maximum
 30 days $50 per form $30 per form $15 per form $536,000
 60 days $100 per form $60 per form $30 per form $1,609,000
After August $260 per form $100 per form $50 per form $3,218,500
Intentional Disregard to file $530 per form $250 per form $100 per form  No Limit

Source: https://www.irs.gov/pub/irs-pdf/i1099gi.pdf

The IRS can assess a penalty of
  $1,590.00 for failure to file THREE 1099 forms
 $5,300.00 for failure to file TEN 1099 forms, etc.

Penalties for which you are not aware, such at Tin-Name Match failures,
 are always at the highest rate, because the IRS does not notify you for many months.

You can avoid and ABATE Tin-Name penalties being pro-active. See this link:

http://www.1099Express.com/TinMatch.asp