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1099 reporting of gift cards
January 16, 2022
Q. We have a vendor who distributes credit cards to our program participants. We pay this vendor the full amount for the cards. We felt the vendor would have responsibility to report income. Now we are not sure. Are you able to give us the IRS rule on this type of relationship?
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.)
A…
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