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1099 Reporting: Payments to Partnerships, Acquired Companies, and Settlement Payments
January 28, 2025
Q. We acquired a company in 2024 and we sent money to lawyers, consultants and the company that we acquired. Should I report all of these payments on a 1099?
Consultants: W9 - PartnershipCompany Acquired: W9 - PartnershipLegal firm: W9 - PartnershipRegulated Investment Company: W9 - Regulated Investment Company
Also, for settlement payments (employees & non-employees), should these go to 1099-Miscor NEC?
A.
(Answered by IOFM's third-party tax expert)
There is no exemption from reporting to…
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