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Is a 1099 needed for a contractor paid by credit card?
March 1, 2022
Q. Do we need to 1099 an independent contractor if we pay them with a bank credit card (i.e., Chase, Wells Fargo)? What is the best practice for recording these transactions since we are paying with a credit card, so that the check payment we make on our accounting system is showing the bank's name and not the independent contractor?
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,…
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