Does your business file Forms 1042-S and 1042 for payments to foreign vendors, investors, or related entities? As the IRS continues to place increased audit scrutiny on these forms, additional filing precautions could help your business avoid costly penalties this reporting season.
Join us for a webcast where we’ll define Forms 1042-S and 1042 filing obligations, review common filing issues and errors, and cover how to prevent penalties and noncompliance. We’ll also cover the following key points:
- Distinguishing payments of reportable income versus nonreportable income
- Avoiding common pitfalls of Forms 1042-S and 1042 reporting
- Remaining compliant and preventing common penalties
- Understanding related deadlines and available extensions