Who files the 1098-F form?

November 15, 2022

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Q. If a city pays an individual a fine, penalty or settlement amount, does the city file the form reporting the amount as the payor? If a city fines or penalizes someone and they have to pay the city, does the city file the form as the payee to report it? The IRS 1098-F instructions use the word "paid" but does not state clearly who should be the filer. A. (Answered by IOFM's third party tax experts) The "payer" is the person (company, organization or an individual) that must pay the ordered or…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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