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Handling Settlement Checks and 1099-MISC Reporting
March 12, 2025
Q. We issued settlement checks payable to claimants in December 2022 and mailed them to our attorney to hold until the settlement agreements had been fully executed. This did not happen until February 2023, so the claimants didn't receive their checks until after that point. We issued the claimants 1099-MISC forms reporting amounts paid in 2022 but they are asking for the 2022 forms to be zeroed and reissued as 2023 forms since they didn't receive the checks until 2023. Do they have an argument…
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