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Handling Unreported Incentive Payments and Missing W-9s
January 15, 2025
Q. One of our departments made incentive payments in 2023. The payees were paid as one-time suppliers which did not require submission of W-9 so the payees were not setup in our system as a supplier, and as a result, the payments for calendar year 2023 did not get reported to the IRS and there were no 1099 forms issued and sent to the recipients.
Are incentive payments reportable, and if so, which form should be used?
If the one-time incentive payment made in 2023 is reportable and the payee…
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