Airfare and Hotel Expenses Paid for Honoree in Regards to Charitable Service: 1099-MISC Reportable?
Does the following situation require Form 1099-MISC reporting to the individual?
An individual is being honored at a recognition event for his/her charitable service. The person was nominated by others. The person has his/her airfare and hotel paid for to attend the recognition luncheon in another state. There is no other value received by the individual.
Does this qualify as a noncompensatory payment; and therefore, does not require the person receive a 1099-MISC for the value of the airfare and hotel? Or if reportable, then only as a nontaxable amount received?
Remember, just because the person is merely being "honored" and performed no service for you does not mean they shouldn't be reported to - for instance think of the game show contestant who wins a prize or award and still gets a 1099 detailing the fair market value of that award.
Question on Reimbursing Independent Contractors and 1099 Reporting
In the past my company has only reported labor paid to Independent Contractors on 1099s. We are considering stopping this practice and reporting the entire payments made to an IC in a given year (labor & ODCs) as backing out expenses is time consuming and the possibility for error is greater. Is this acceptable with the IRS? What is the rule?
When it comes to reimbursing for expenses paid to indepedent contractors there is no hard and fast rule.
Here are some tips and your answers:
IRS Publication 463 is what you want to look to for much more information on this subject.
Reimbursement for Moving Expense
Last year our company purchased another company. This company is to remain a stand alone company at this point. One of the VPs of that company has been commuting between Tucson and Las Vegas for his Job. We (the parent company) are going to pay for him to move permanently to Las Vegas. He's not considered an employee of the parent company so we can't run the relocation cost through payroll as he is not on our payroll. Would we need to send him a 1099 Misc then as non employee compensation?
This is...
an employment-related expense for this employee and should be run through the payroll of his employer pursuant to the accountable plan rules rather than being treated as nonemployee compensation. The parent company will reimburse the stand-alone company.
Reimbursing Job Applicant for Travel Expenses
We are reimbursing an applicant we interviewed for their travel expenses which totals $1,000.00. This person lives in Canada. Do I need to report the funds reimbursed to this person since they are in Canada? If so, is the W-8 the appropriate form to request?
Whether you reimburse the interviewee, or purchase his travel, these payments are...
Paying Settlement of Property Damages
I am paying a Settlement of Property Damages to the claimant. The Claimant is Incorporated. Do I issue a 1099 reportable?
There are two issues here. Let’s start with reporting payments to claimants.
Whether you report the payment to the claimant always depends upon what the settlement is for.
Are reimbursements of medical expenses to retired employees reportable on a 1099?
Are reimbursements of medical expenses to retired employees reportable on a 1099? If yes, which box? If they are not reportable how do we know medical expenses aren't deducted again when reitrees file their taxes? Thank You
You...
Lawsuit settlement check payable to lawfirm: how do I report?
There was a lawsuit from John Doe and I issued a check payable to his lawfirm on behalf of John Doe. The payment was for condemnation matter and it was awarded to John Doe. Do I report the amount to 1099-Misc box 2 Royalties or Box 7 Nonemployee compensation?
Here is what you need to do:
Non-Employee services involving rental of goods and reimbursement of costs
A non-employee did a piano performance so that is reportable $600.00 (box 7) since it is a service. Now, that non-employee rented the piano from a company and we agreed to reimburse half of the cost for the rent which is $500.00. Do I report the $500.00 to the 1099-MISC box 1?
Reimbursement Agreement between two companies
An agreement was made between us and a company. The agreement is to "Reimburse" $14000.00 to the company to assist with cost of construction. The company paid the expenses of the construction for widening the street and we are to reimburse the company of a flat rate of $14000.00 after the construction is done. Is this a reportable?
Employee P-Card Reimbursement Question
We will be going to an individual liabilty credit card program. The card will be issued in employee's name with LHC as the company. The employee will pay the balance monthly but then will turn around and submit a expense reimbursement, which will be paid thru LHC accounts payable back to employee. Some employees are expressing concerns that the check written back to them for reimbursement is taxable? Please advise ASAP.
Thanks,