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Payee

   Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia 0.48 sec.

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. The person in whose favor a bill of exchange is made payable. Vide Bills of Exchange.
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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.
Information reporting for 2006 exempt interest by Levy, Marc / The Tax Adviser
Transactions among corporations that are part of the same consolidated group require the payer and the payee to be treated as one entity.
Matching deductions to payments: payer/payee rules are not always ... by Turner, Mark A. / Journal of Accountancy
However, a check that the taxpayer directs a payee to hold for some period of time is not deductible.
Taxing Matters by Top Producer
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