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What Is Form 1042-S?

The IRS Form 1042-S deals with a foreign person’s U.S. source of income that is subject to withholdings. 

Who Should File 1042-S?

  • If you are a withholding agent, whether or not you withheld any tax
  • You must file a 1042-S for each tax rate 
  • File one for each kind of income paid to a single recipient

The form can be filed on paper or online. However, if you are a withholding agent and you will have to file more than 250 forms, you must file online.

Important Dates For 1042-S

  • Recipient Copy-March 16th
  • IRS eFile-March 16th
  • IRS Paper Filing-March 16th

If this date falls on a holiday the due date will be the next day.

How to eFile 1042-S for the Year 2020?

Tax1099 is the go-to source for your 1099 filings. You can eFile Form 1042-S Online for the year 2020 using Tax1099. Don’t wait for the deadline eFile Now.!