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Form 1098-F
October 31, 2022
Q. I watched the IOFM webinar yesterday regarding 1099s and what's new. It mentioned having to file 1098-F. I'm confused. Does the government agency (in this case, a city) file the form if they've penalized or fined someone and expect payments to be received OR is it filed if the city has been sued and must pay a settlement? I can't figure out who is the filer.
A.
(Answered by IOFM's third-party tax experts)
The City files Form 1098-F to report to the IRS that it has fined someone (either the…
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