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Form 1042-S threshold
July 7, 2023
Q. The 2023 IRS Instructions for filing Forms 1042-S states the following: "Forms 1042-S filed for tax year 2023 must be filed electronically if: You are a person (including a corporation, partnership, individual, trust, or estate) that is required to file 250 or more Forms 1042-S, orYou are a financial institution (whether U.S. or foreign) regardless of the number of Forms 1042-S required to be filed." I am confused because I thought the new filing regulations of the electronic reporting…
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