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RCM 5.35.3.1 Compensation Defined Please refer to FOMI208 for a list of items or earnings that may be considered as compensation and for an explanation of railroad compensation under the RR Act.5.3.10

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What is payment of an award?

Payment of an award refers to the disbursement of funds to an individual or entity as a result of a legal judgment, settlement, or recognition for achievements or contributions.

Who is required to file payment of an award?

Individuals or organizations that receive awards or judgments that result in monetary compensation are typically required to file payment of an award.

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What is the purpose of payment of an award?

The purpose of payment of an award is to compensate the recipient for their achievements, losses, or services rendered, and to formally acknowledge their contributions.

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Information that must be reported on payment of an award typically includes the recipient's name, Social Security number or taxpayer ID, address, amount of the award, and the date of payment.

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