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I'm curious how you have come to call this money "spiff money"
A spiff is bonus money paid to salespeople for meeting a specific sales goal. Manufacturers of products often provide spiffs. A spiff is also referred to as push money. At the end of the relevant period when the spiff is offered, the salesperson will submit proof of the sales to the manufacturer and the manufacture will cut a check. A spiff is a form of compensation and will have to be reported on your tax return.
It should be reported as an award, or prize
I've never heard of a "spiff" in any other connotation than with manufacturers and sales men
Could you please explain why this money is paid to a particular student, and how it came to be known as "spiff" money?
Thank you for that explanation. It helped alog
sorry....seems I've lost my typing skills somewhere today....if you see them, will you please send them home....I miss them alot
You are correct in that your facility, since they are not the payers, are not required to issue a 1099
Since you have documentation that you are not the actual "payer", you just hold the money for the recipient, you should be fine.