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Who issues the 1099, the claims management company or the client company?
January 9, 2024
Q. My company, "ABC" (a claims management firm), issues payments on the behalf of our client company, "GA." The money we pay out for all claims comes from the GA bank account. Who is the responsible party to issue the 1099s, my company ABC, or the client GA?
A.
(Answered by IOFM's third-party tax experts)
It depends on which entity performs the management function which approves and authorizes the payment to be made. If the client GA has that management or oversight function (and your company…
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