It’s time to begin the process of filing your 1042-S forms!
According to the IRS info page, Form 1042-S is used to report:
- Income and amounts withheld as described in the Instructions for Form 1042-S.
- Specified Federal procurement payments paid to foreign persons that are subject to withholding under section 5000C.
- Distributions of effectively connected income by a publicly traded partnership or nominee.
This form is described as one of the most complex 10-series forms for businesses to file and with so many other changes impacting the world of tax in the past year, having to file Form 1042-S is yet another responsibility for many tax & AP professionals to handle.
This topic is, historically, one of the most widely requested and appreciated by our webinar attendees and Sovos clients and we are eager to provide you the details to understand Form 1042-S and how to file as compliantly as possible. Sovos’ team of experts have pooled together their knowledge of this form and are prepared to share everything you need to know for the most successful filing season yet!
- What is Form 1042-S and how to file compliantly?
- What are the latest updates for Form 1042-S?
- How can Sovos help?