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Are Poundage Fees Paid to a City Marshal Reportable on Form 1099-NEC?

January 15, 2025

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Q. Are poundage fees that are a percentage of a settlement that are paid to the City Marshall Martin A Bienstock, reportable on a 1099M? We received a W9 from the City Marshall Martin A Bienstock and he checked Individual/sole proprietor or single-member LLC box and provided an EIN. A. (Answered by IOFM's third-party tax expert) Regarding poundage fees, the IRS issued this memorandum https://www.irs.gov/pub/irs-wd/201533012.pdf, in which the IRS determines that the County Clerk is not…

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