1099 reporting on multiple payments made to a trust account

November 18, 2019


Q. We received a settlement agreement through our legal department that was drafted by outside counsel, requesting that multiple payments be made to a trust account but to issue the 1099 to multiple people who will not named as a payees on the checks. One check is being requested to be issued in the trust account name, but to issue the 1099 to a former employee (for non-wage-based damages). The other check is being requested to be issued in the trust account, but to issue two separate 1099s…

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