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Can an individual receive both a 1099-INT and a 1042-S in the same year?
December 13, 2021
Q. If an individual who is the beneficial owner of deposite interest provides an updated W8-BEN partway through the year, say in June, would the interest and tax withholding completed through May still be reported on a 1099-INT? And the interest from June through EOY be reported on the 1042-S? Or will all interest and tax withholding be reported on the 1042-S?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance…
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