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Reportability of insurance payments to a foreign supplier
February 11, 2022
Q. Would the employee benefit (i.e., medical and ancillary benefits) insurance payment to foreign supplier (incorporated in Singapore) be reportable as U.S. source income on Form 1042-S? The benefit is for employees located in Singapore. I would think it is not U.S.-source income and thus not reportable, but would like your input on this.
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,…
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