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Reporting taxable damages
January 16, 2022
Q. We paid taxable damages to a claimant, less tax and payroll deductions, and it will be reported on a W-2. We also paid claimant's attorney for services performed on claimant's behalf. The payment to attorney will be reported on 1099-MISC. Please confirm my understanding that only the amount paid to the attorney will also be reported to the claimant on 1099-MISC since the taxable damages are being reported on a W-2.
A.
(Answered by a 3rd party, independent advisory services firm offering…
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