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Foreign Reporting and 1042-S: Are Cloud-Based Software Payments Reportable?
April 1, 2025
Q. I am trying to determine if the following scenario would be reportable on form 1042-S for Foreign Reporting.
Our vendor has developed certain software applications and platforms which it makes available to subscribers via the internet on a pay-per-use basis for the purpose of providing solutions for the aviation industry which covers a broad set of capabilities.
A.
(Answered by IOFM's third-party tax expert)
Unfortunately, there are no easy answers on this type of transaction. Page 52 of the…
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