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U.S. company with Canadian locations operating under a Canadian entity
December 6, 2023
Q. We are a US company but we do have locations in Canada under a Canadian company. Since we have that presence do we need to issue 1042-S forms to our companies we use in Canada so long as they billed the Canadian company? All payments are issued out of the US but under a bank account for the Canadian company.
A.
(Answered by IOFM's third-party tax experts)
Form 1042-S reporting is tax information about income sourced in the United States which is the income of a non-U.S. entity or non-U.S.…
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