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Payee for deceased employee
October 9, 2024
Q. Unfortunately, we have a recently deceased employee without a defined beneficiary. Is is permissible to issue the final payment via direct deposit in the name of the deceased employee and issue a 1099 using the employee's SSN? I realize such a payment is usually processed to the estate of the deceased employee, but one doesn't exist in this situation.
A.
(Answered by IOFM's third-party tax experts)
Once deceased, the employee’s estate or beneficiary is the new payee. If there is not a named…
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