1099 reporting of a settlement made to spouses

May 19, 2021

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Q. A claim was made by two parties identifying themselves as spouses. The Court determined the settlement to be paid to claimants and their counsel. We have a W-9 from the law firm and one of the claimants. We will report to the law firm as Attorney Gross Proceeds.Can we report the amount to the just one of the claimants since we only have a W-9 for one of them, or do we need to get a W-9 from the other claimant so we can report to both claimants?If the answer is that we need to report to both…

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