New Jersey Tax Court Holds Law Firm Must Give Taxpayer Identification Number to Receive Settlement for Client

New Jersey Tax Court Holds Law Firm Must Give Taxpayer Identification Number to Receive Settlement for Client 

Tax Court of New Jersey

The New Jersey Tax Court ruled that a law firm must furnish its taxpayer identification number (TIN) prior to a locality issuing a settlement check to the firm's trust account, finding that the locality needed the TIN to issue Form 1099 to the law firm in order to comply with federal and state reporting requirements. 

The New Jersey Tax Court ruled that a law firm must furnish its taxpayer identification number (TIN) prior to a locality issuing a settlement check to the firm's trust account, finding that the locality needed the TIN to issue Form 1099 to the law firm in order to comply with federal and state reporting requirements.

The New Jersey Tax Court ruled that a law firm must furnish its taxpayer identification number (TIN) prior to a locality issuing a settlement check to the firm's trust account, finding that the locality needed the TIN to issue Form 1099 to the law firm in order to comply with federal and state reporting requirements.

The New Jersey Tax Court ruled that a law firm must furnish its taxpayer identification number (TIN) prior to a locality issuing a settlement check to the firm's trust account, finding that the locality needed the TIN to issue Form 1099 to the law firm in order to comply with federal and state reporting requirements.