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Are virtual card payments 1099 reportable?
April 5, 2022
Q. Are supplier initiated virtual card payments - where payments of vendor invoices are made through the use of one-time virtual credit cards that are provided to the vendor to process - reported on Form 1099-NEC/MISC or are these payments reported on Form 1099-K?
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.)
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