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1099 Reporting for Payments to an 1120-SF Settlement Fund
March 24, 2025
Q. Our Finance team is trying to confirm if a 1099 should be issued to an 1120-SF settlement fund. Is a 1099 required in such a case when a payment is made to the fund itself?
A.
(Answered by IOFM's third-party tax expert)
You do not need to send a 1099 to the settlement fund. Please read this article from a few years ago on Ask the Experts which will provide more context. Generally, payments to a qualified settlement fund are not reported by you to the fund. The fund might have a reporting…
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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
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