Looking for an efficient way to file 1042 online?
IRS approved Tax1099 allows you to create and submit the 1042.
You will then be able to download and print Form 1042 to mail to the IRS. IRS Form 1042 is
used to report a foreign person's income if it is sourced in the U.S. and is subject to
withholding..
IRS Form 1042 is used to report a foreign person's income if it is sourced in
the U.S. and is subject to withholding.
Usecase: Payers use this form to report payments to foreign persons.
When would you need to file a 1042 ?
Every withholding agent or intermediary who receives, controls, has custody
of, disposes of, or pays a withholdable payment (to which chapter 4
withholding applies) or an amount subject to withholding, must file an
annual return for the preceding calendar year on Form 1042.
Any PTP or nominee making a distribution of ECI under section 1446, or
any entity required to report a distribution on Form 1042-S that is
subject to withholding under section 1445, must file Form 1042.
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The CFSFP Combined Federal State Filing Program allows parts of your federal eFile to be transmitted to the state at no extra charge. Non-participating states must receive a direct file. Learn more about state filing here.