Question: Thom pays 1 0 different contractors each more than $ 6 0 0 for services in connection with Thom's business.Thom is required to file Forms

Thom pays 10 different contractors each more than $600 for services in connection with Thom's business.Thom is required to file Forms 1099-NEC, reporting nonemployee compensation payments in Box 1, with respect to each of the 10 contractors. For payments made to these contractors in 2024, Thom does not file Forms 1099-NEC until April 15,2025. Thom is subject to a total penalty of:$130$525$1,300$0

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