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1099 Reporting for Settlement Payments: Your Top Questions Answered
April 28, 2026
Q. We have questions regarding 1099 reporting for settlement payments:
1. How far back is our liability for issuance of 1099s for settlements?2. Who do we need to issue 1099s related to settlement? Is it just the opposing attorney, or the opposing attorney and plaintiff?3. What is the penalty to the issuer for non-issuance of 1099s related to settlements? Is it just the penalty for non-filing plus interest?4. What settlement payments are 1099 reportable and non-reportable?5. Any tips for best…
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