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payee
(redirected from payees)

   Also found in: Dictionary/thesaurus, Financial 0.02 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 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.



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However, in lieu of reporting exempt interest and exempt-interest dividends on 2006 Form 1099-INT and separately identifying AMT interest, payers be permitted to file with the IRS and furnish to payees a substitute statement in specified form setting forth exempt interest and exempt--interest dividends paid for 2006.
Because section 267 is triggered when payers and payees use different accounting methods, it is important that CPAs consider whether a corporate client will be able to properly claim a deduction when transferring a note to a related payee.
You can always change the accounts you're paying bills from or add more payees as needed.
 
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