Most defendants issue IRS Forms 1099 for legal settlements. The form may be issued to the lawyer, the client, or both. Frequently, both the client and the lawyer receive a Form 1099 for 100%, making ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Millions of Forms 1099 are sent out every year. Most arrive in ...

A 1099 is a tax document reporting nonemployment income to the IRS. There are several types of 1099 forms, depending on the income you receive — but all are designed to report payments you received to ...

If you regularly work with independent contractors or vendors, you’ll probably need to send them Form 1099 at the beginning of the year. There are over 20 types of 1099 forms, but fortunately, most ...