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Buying gift cards through a third-party issuer

August 31, 2023
August 31, 2023

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Q. Our company will be issuing incentive gift cards to our customers through a 3rd party supplier. Our company is not directly paying the gift cards out, but rather buying them through the 3rd party supplier and they will issue and send out gift cards to the awarded individual. Since the 3rd party is issuing the payment, are they in charge of creating a 1099-MISC for the individual, or would that be the responsibility of our company? A. (Answered by IOFM's third-party tax experts) Any Form 1099…

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