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Reporting assistance payments to local residents
January 16, 2023
Q. My organization pays some local residents who require monthly assistance with their homemaking, personal care, respite care, and other small expenses. The sample invoice is redacted. These payees submit a W-9 and on Line 3, the box "Indivdidual/Sople Proprietor or Single Member-LLC box is checked and they provide their Social Security numbers. Should my organization issue a 1099 and report these payments if they exceed $600/year?
A.
(Answered by IOFM's third-party tax experts)
It would…
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