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Reporting payments for software and licenses from a Canadian vendor
July 31, 2024
Q. We have a Canadian vendor with no offices located in the U.S. We pay for a hosted third party service yearly license for our park inspections. Is this payment for a software/license reportable on a 1042-S? We have a W-8BEN-E showing they are exempt from withholding.
A.
(Answered by IOFM's third-party tax experts)
Whether the payment requires Form 1042-S reporting (under the tax Code chapter 3 requirements for non-FATCA income) is determined by the fact situation combining two questions: Is…
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