Payments made to individuals and businesses to provide economic relief in relation to the COVID-19 pandemic may be reportable to the individual or business on a 1099-G as a taxable grant.
When the State makes these payments directly to the recipients, the State is responsible for reporting the payments to the recipient and to the IRS. This document outlines the payment reporting requirements for economic relief payments issued through VISION and the process departments must follow to ensure accurate reporting both to the recipient and to the IRS.
1099-G Reporting Requirements Memo
MEMO: COVID-19 Economic Relief Payments 1099-G Reporting Requirements
Payments made to individuals and businesses to provide economic relief in relation to the COVID-19 pandemic may be reportable to the individual or business on a 1099-G as a taxable grant. This document outlines the payment and reporting requirements for economic relief payments issued through VISION and the process departments must follow to ensure accurate reporting both to the recipient and to the IRS.
Questions regarding reporting requirements may be directed to Joe Harris at Joe.Harris@vermont.gov 828-0671
About Form 1099-G, Certain Government Payments | Internal Revenue Service (irs.gov)