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payee |
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The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. payee noun acceptor, assignee, consignee, devisee, donee, drawer, endorsee, grantee, recipient, taker, transferee See also: beneficiary, heir, holder, recipient, transferee PAYEE. The person in whose favor a bill of exchange is made payable. Vide Bills of Exchange. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| related persons) making payments of interest and original issue discount (OLD) generally must report such payments to the IRS, unless the payee is duly documented, or can be treated, as either foreign or an "exempt recipient. Transactions among corporations that are part of the same consolidated group require the payer and the payee to be treated as one entity. However, a check that the taxpayer directs a payee to hold for some period of time is not deductible. |
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