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1099 reporting for legal services provided by a third party
October 24, 2023
Q. Legal services provided to our company were billed to an advisory service. We paid the advisory service for the legal charges, who then paid the legal office. Do we issue a 1099 to the advisory service, the legal services provider, or neither and expect that the advisory service provider will report the payment for legal services?
A.
(Answered by IOFM's third-party tax advisors)
The contract (services agreement) to which your company was a party should identify whether your company…
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