Foreign Person's U.S. Source Income Subject to Withholding
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1042-S for paper and electronic filing
IRS form 1042-S is an information return sent to foreign individuals
reporting income from a United States-based source--in other words,
non-residents who conduct some form of business within the United States.
This can include investments or capital distribution. The form is sent
to the non-resident by the bank or corporation (or
withholding agent) that handles the transaction.
You are a withholding agent if you are a U.S. or foreign person that has control, receipt, custody, disposal, or payment of any item of income of a foreign person that is subject to withholding.
Our 1042-S software makes it easy to import, print and/or efile IRS Form 1042-S quickly and easily.
IRS Form 1042-S is the most difficult information return to electronically submit to the IRS. There are many, many variables involved with this form and the data has to be perfect or else the IRS FIRE System will reject your file.
We can prepare and e-file form 1042-S quickly and easily. We have experienced staff who file over a million information returns per year. Oftentimes the turn-around time is 1-2 days. Our sales office can be reached at (480) 460-9311.
Type information on the screen as it would be typed on the form itself. Or import the data from Excel (xls, xlsx) and/or CSV file format or some type of spreadsheet. Its easy to do and we have sample excel spreadsheets.
Form 1042-S can be printed on plain paper with black ink, unlike Forms 1098 and 1099 which must be printed on red-ink forms.
Print an unlimited number of 1042-S Forms.
Convert to PDF. We can email instructions on how to download and install a free PDF print driver that will let you convert any document to PDF. E-mail Copy B to recipients.
File an unlimited number of 1042-S forms electronically with the IRS.
Our 1042-S software creates files in the format required by the IRS for electronic transmission. The system is updated each year to reflect the format changes that are made by the IRS.
Technical support is provided at no extra charge for the tax year that the software was purchased.
Free live update feature helps us communicate with you, the customer, and keep you up-to-date with the latest form revisions.
Data entered may be stored anywhere on your hard drive, portable drives, network drives or external diskettes for quick retrieval. You can also export your data to a csv file format.
Built-in Income, Exemption, Recipient and Country codes.
Forms 1042-S, whether filed on paper or electronically, must be filed with the IRS by March 15 of the year following the year of payment. You are also required to furnish Form 1042-S to the recipient of the income on or before March 15 of the year following the year of payment.
To request an extension of time to file Forms 1042-S, file Form 8809, Application for Extension of Time To File Information Returns. You should request an extension as soon as you are aware that an extension is necessary, but no later than the due date for filing Form 1042-S.
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1096 Data Entry
Filing information returns can be stressful. We can help eliminate the stress of filing information returns by providing complete, secure outsourcing solutions for 1097, 1098, 1099, 3921, 3922, 5498, 8027, 8955-SSA, W-2, W-2G and 1042-S eFiling and Forms Management.
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