Question: Sergio is self - employed and files a Schedule C ( Form 1 0 4 0 ) , Profit or Loss From Business. He paid

Sergio is self-employed and files a Schedule C (Form 1040), Profit or Loss From Business. He paid three independent contractors more than $600 during 2023 for their services. He failed to provide Form 1099-NEC before February 1,2024 to the three independent contractors. He provided the forms on May 26,2024. What is Sergio's total penalty for failure to furnish the information returns?

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