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1099 reporting of credit card vendor payments
November 10, 2021
Q. If services are paid to a vendor via credit cards, do credit card companies issue the 1099-NEC directly to the vendor? Or do we need to manually adjust and send a 1099 NEC to these vendors ourselves?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
When you use a credit card (or debit card, p-card, etc.) to make a payment…
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