Statutes, codes, and regulations
Code of Federal Regulations
Title 31 - MONEY AND FINANCE: TREASURYSubtitle B - REGULATIONS RELATING TO MONEY AND FINANCEChapter II - FISCAL SERVICE, DEPARTMENT OF THE TREASURYSubchapter A - BUREAU OF THE FISCAL SERVICEPart 256 - OBTAINING PAYMENTS FROM THE JUDGMENT FUND AND UNDER PRIVATE RELIEF BILLS
Subpart F - ADDITIONAL PROVISIONS
Section 256.51 - Does Fiscal Service report Judgment Fund payments to the IRS as income to the payee on IRS Form 1099?

31 C.F.R. § 256.51

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Current through September 30, 2024
Section 256.51 - Does Fiscal Service report Judgment Fund payments to the IRS as income to the payee on IRS Form 1099?

No, Fiscal Service does not report Judgment Fund payments as potential taxable income to the IRS. Fiscal Service does not have sufficient information about the payment to determine if a Form 1099 must be issued or to prepare such a form when required. To the extent any Form 1099 needs to be issued, it is the responsibility of the agency submitting the payment request to do so.

31 C.F.R. §256.51