What is IRS Form 1042-S?

• IRS Form 1042 is used to report a foreign person’s income, if it is sourced in the U.S., and subject to withholding. Usecase: Payers use this form to report payments to foreign persons.

When would you need to file a 1042-S?

If you are a withholding agent of a foreign person’s income, you may need to file Form 1042-S.

If you are a withholding agent paying a foreign person income that is subject to withholding, even if you are not paying the withholding, you may need to file Form 1042-S.

• For more, visit www.irs.gov

1042-S Deadline and Important Dates

With Tax1099.com, you can schedule the date that your forms are transmitted to the IRS. Scheduling your forms gives you time between when we email/USPS your forms to vendors and when we send the forms to the IRS. This is useful because your vendors may have edits to make. You can make those changes in Tax1099 before the scheduled date at no extra charge. We automatically schedule your IRS eFile transmission at a week away from when you submit, or by the deadline. You can edit this date to match your preference.

1042-S eFile Info

Electronically-filed 1042-S forms are directly transmitted to the IRS from Tax1099.

You will receive IRS acknowledgement of your eFile by email within 3 - 7 business days.