The following steps are required when processing a payment or reimbursement where another non-Harvard employee party involved needs to be included in the transaction for tax reporting purposes.
Third Party Reimbursement/Payment:
Example - A faculty member pays an individual or a company for rent. Harvard has a responsibility to report the income for this person or company via 1099 or 1042s. In order to capture this information, the reimbursement must be processed as a third party payment.
Example – You have paid a travel agency for the fellowship...
Read more about How do I complete a Third Party Reimbursement or Payment?