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Legal Settlement Payment: Should You Request a W9 from Third Party?
March 12, 2025
Q. My company has a legal settlement payment and the claimant wants our company to make the settlement payment to the third party business entity which is not the claimant legal representative/law firm.The third party is a separate business entity. The claimant provided its W9 form but not the third party vendor W9. Should my company ask for the third party W9 form? Should we issue 1099 MISC to the claimant not the third party vendor?
A.
(Answered by IOFM's third-party tax expert)
This would…
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