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Is anyone aware of any exemptions for reporting to the IRS payments made
to business owners in the city as incentive for making storefront or other
improvements to their property?
Our city made several “grants” in 1999 and are trying to determine if it
is a reportable payment for 1099 purposes. Generally, the owner had to comply with various city
requirements and had to submit receipts for all work performed prior to the
City making payment. While it appears
to be taxable, there may be some exception I’m unaware of. As today is the obvious date to get
1099’s out, a quick response would be most appreciated. Jesse Takahashi Accounting Manager City of Campbell |
