- Membership
- Certification
- Events
- Community
- About
- Help
Is Form 1042-S only required if taxes were withheld?
November 10, 2021
Q. Is form 1042-S only required if taxes were withheld?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
No, not correct. Form 1042-S filing is required if the facts of the beneficial owner's status, income sourcing of the payment, and type of payment, meet the specific requirements of the federal tax regulations. If a payment…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
