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1099 reporting of board of directors' direct contributions to a PAC
October 23, 2023
Q. The Board of Directors for our insurance company can opt to have a portion of their compensation withheld which we then pay directly to our own PAC organization on their behalf. Should the directors' 1099 include the withheld amount? And then should our PAC report the contributions to the FEC as if made by the individual directors?
A.
(Answered by IOFM's third-party tax experts)
Yes to both questions. Each individual person's instruction to your company to have an amount diverted to the PAC…
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