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Payee |
Also found in: Dictionary/thesaurus, Financial | 0.01 sec. |
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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. 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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payees
