1042-S Software
Foreign Person's U.S. Source Income Subject to Withholding
Use the software today! Order online and the shopping cart will e-mail you instructions on how to activate the software.
Software
1042-S Electronic Filing Software
$599.95
Software requires a transmitter control code (TCC) issued by the IRS.
Software imports up to 2,500 records. Additional
10,000 record increments can be purchased by calling
sales at (480) 706-6474.
Outsourcing
Let out trained staff import your data from excel, print and
mail, and electronically file on your behalf using our TCC
number. We work quickly and have experienced staff who
can provide complete, secure outsourcing solutions. Starting as
low as $799.
Outsourcing is a flat efilng fee based on each
excel file up to and including 1,000 records. Please
call our office at (480) 706-6474 for an individual quote.
IRS Form 1042-S - IRS Form 1042-S is an information return that reports a foreign person's US source income
subject to withholding. Every US or foreign withholding agent who has control, receipt, custody, disposal
or payment of U.S. source income over a non-US person, must file these forms with the IRS.
Our 1042-S software makes it easy to key in information manually or import from excel. Copy B can be printed on plain paper
with black ink or convert to PDF. Electronically file originals, corrections or replacement files for current or prior years directly to the IRS.
Outsourcing Solutions...
Confused? Don't worry. IRS Form 1042-S is a detailed form that very few people understand
and many businesses call us about. We have been preparing, printing and mailing, and
electronically filing IRS Form 1042-S for 15 years. We work with book publishers, model agencies,
casinos, banks, foreign financial institutions and many,
many other companies year after year. And we can help you to!
Let our trained staff import your data from excel, print and mail, and electronically file
on your behalf. We can help eliminate the stress of filing information returns by providing
complete, secure outsourcing solutions for Forms 1042-S and the 1042-T transmittal summary.
We can print, mail and efile any size order. Competitive pricing. Please call our sales office at
(480) 706-6474.
Stay compliant, reduce administrative costs and know that the job will get done right.
New Paper/Electronic Filing Threshold...
IRS mandates electronic filing of 10 or more information returns. The new
threshold is effective for information returns beginning tax year 2023. FIRE TCC holders who submitted their TCC application
prior to September 26, 2021, must complete and submit a new application and verify their identity through ID.me, an IRS
provider of sign-in services.
Import...
Simply import the data from Excel. Sample excel worksheets can be downloaded from this site.
Printing...
Print Copy B, C, D and/or Copy E of Form 1042-S on plain paper with black ink. Or convert to PDF.
Option to print on both sides of a sheet of paper. Here you can print
(or convert to PDF) the first page to show the mailing addresses of the withholding agent and recipient.
The second page is that respective Form 1042-S. If your printer supports duplex printing, the addresses
are printed on one side and the form on the other side.
You can tri-fold and stuff into a #10 size, 2-window and mail.
File Electronically...
1042-S software will generate a file formatted according to Publication 1187, Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.
The system is updated each year to reflect format changes that are made by the IRS. 1099FIRE is the only company to offer OneTouch E-Filing. One click of a button will automatically
upload data directly to the IRS FIRE system using your login credentials. A receipt of your file will be displayed on screen.
1042-S software is valid for the tax year 2023 season and prior tax years. Renewals can be purchased at a reduced cost.
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.
Saving Data...
Data entered may be stored anywhere on your hard drive, portable drives,
network drives or external diskettes for quick retrieval.
Technical Support...
Technical support is provided at no extra charge for the tax
year that the software was purchased.
Built-in Income, Chapter 3 and 4 Exemption Codes, and Chapter 3 and 4
Status Codes.
Due Dates/Time Extension...
There is one due date for the 1042-S forms. You have to print and mail Copy B to
the recipient of the income on or before March 15 and paper or electronically file
Form 1042-S to the IRS by March 15 as well.
You can file for a one month extension of time to electronically file Forms
1042-S to the IRS but you must print and mail (or e-mail) Copy B to the recipient
on or before the March 15 due date. You can file an extension online through the
IRS FIRE System. We can file an extension on your behalf as well. Just contact
our sales office at (480) 706-6474.
Difference between Form 1042 and Form 1042-S...
IRS Forms 1042 and 1042-S are filed separately.
Form 1042-S is a withholding statement; it shows how much money was withheld and paid to the IRS
when a US business pays a non-US person. You have to paper or electronically file Form 1042-S along with Form 1042-T every
year to the IRS and send Copy B to the recipient. The recipient may or may not be eligible for a tax credit depending
on which country they are from and whether the IRS has a tax treaty with that country.
Form 1042 is a tax return which shows a weekly and monthly breakdown of all payments that are reported
on Form 1042-S under Chapters 3 or 4 by a withholding agent. Form 1042 can not be filed electronically.
You have to fill the form by hand and then print and mail.
Articles...
IRS Form 1042-S: How Can Recipients Receive a Refund of Withheld Money?
FATCA and Foreign Bank Accounts: The Issue of Withholding and Reporting for Expatriates
Definition of a Withholding Agent Under Chapter 4 FATCA Reporting Requirements
What is a Global Intermediary Identification Number?
Related...
1042-s software, 1042-s, 1042s software, 1042-s form, 1042 s, 1042s form, form 1042 s,
fatca reporting, chapter 3 1042-s, chapter 4 1042-s
