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Who do we report to if a vendor outsourced our services to a foreign entity?
August 19, 2024
Q. One of our current vendors has transferred the services they provide to us to one of their foreign entities. They are still acting "as an agent" for this foreign company to collect the payments. Do we need a W-8 from the foreign entity so we can file a 1042-S, since they are providing the service? Or do we continue following 1099 guidelines as it relates to the vendor who is receiving the payment?
A.
(Answered by IOFM's third-party tax experts)
In the scenario you describe, your organization…
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