- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
Globalization has impacted how and with whom we do business. Because of this, the requirement for issuance of Form 1042-S is becoming more and more common. While on the surface, it appears to be a relatively basic form, Form 1042-S can be very complicated. This course attempts to strip away some of the complexities and clarify some of the complicated issues related to Form 1042-S. To aid in that effort, we have included some of the ways that OneSource can contribute. This course includes the relevant tax provisions of the Tax Cuts and Jobs Act of 2017. This basic level course is most beneficial to professionals new to tax reporting requirements who may be at the staff or entry level in an organization but also for a seasoned professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
recognize the individuals and entities eligible to receive a Form 1042-S;
recognize the purpose, basic steps, and filing requirements for issuance and filing of Form 1042-S; and
understand the basic types of reporting and withholdable income to be included on Form 1042-S.