- Membership
- Certification
- Events
- Community
- About
- Help
1099 reporting of an employment settlement
December 6, 2023
Q. Looking for confirmation on how a legal settlement should be reported for a former employee. There are 2 payments required. One payment made to the attorney and another payment made directly to the former employee. The former employee has provided his W-9 which indicates a single member LLC and provided a FEIN instead of SSN. First, is this acceptable to report payment for damages (physical & emotional distress) to LLC instead of reporting for the employee? And would this payment still be…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
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.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
