1099s and Factoring Companies
September 6, 2019
Q. When a vendor asks us to send payment to a factoring company, do we still issue the 1099 to the vendor or do we issue it to the factoring company?
(Answered by COKALA Tax Information Reporting Solutions, LLC, 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. You can learn more about them at www.cokala.com.)
Generally, under "assignment of…
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