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Zelle and PayPal payments
May 13, 2021
Q. If we issue payments to consultants and speakers through Zelle or PayPal, who is responsible for the issuance of the 1099?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
Payments through PayPal are the information reporting responsibility of PayPal, which is a payment settlement organization which files Forms 1099-K to the…
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