The Trade Preferences Extension Act (H.R. 1295) included §806, a provision which increased penalties from $100 to $250 and $250 to $500 for intentional disregard. Late filings will increase from $30 to $60 and $60 to $100 depending on whether more or less than 30 days. The penalties are now indexed to inflation. The cap (or maximum penalty per year) will increase from $1.5 million to $3 million for most filers.
The PATH Act included a provision for less than $100 de minimis dollar amount errors on Forms 1099 that do not have to be corrected, unless the customer elects to receive a correction.