Market Areas > Corporate Finance > 1042-s

IRS Form 1042-S and Form 1042 Tax Reporting

Course Description:

The complexities surrounding Forms 1042-S and 1042 are enough to make any AP pro’s head spin.  And with fines reaching up to $250,000 just for reporting, one mistake could be crippling for any organization.

Join CCM and esteemed tax expert Marianne Couch, Esq, of COKALA Tax Information Reporting Solutions, LLC for an in-depth audio conference on Forms 1042-S and 1042 tax reporting.  In just 75 minutes, this presentation will provide you with an outline of your basic responsibilities to:

• Get documentation that separates your U.S. payees from foreign payees
• Withhold tax, up to 30 percent, from payments to foreign companies and foreign individuals
• Deposit the withheld tax
• Report the foreign payments and withholding to the IRS and the payees at year-end

Course Agenda:

• The purpose of the Form 1042-S
• Which Accounts Payable transactions have to be reported on Form 1042-S
• How the foreign payee documents foreign status
• How to identify the signs of inadequate documentation, or a payee who may be giving you bogus information
• Tips to help you identify potential foreign payees already in your system
• Strategies to determine how much tax to withhold from the payment
• How and when you deposit the withheld tax with the IRS
• What information goes on the Form 1042-S; how it’s filed; when it’s due
• Information you need to include on the Form 1042 reconciliation form; how it’s filed; when it’s due
• Live Q&A session

FEATURED FACULTY:

Marianne Couch, Esq., COKALA Tax Information Reporting Solutions, LLC

Marianne is an experienced advisor and author on U.S. federal and state tax information reporting compliance.  She served for many years as Research Director of Balance Consulting, and chaired special training and advisory services provided to large organizations including the insurance industry.  Prior to joining Balance Consulting, her professional experience was with a large regional law firm.  Marianne is a current member of the IRS Information Reporting Program Advisory Committee, and serves as Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues.  She is a frequent lecturer at nationwide professional conferences, and author of numerous articles on tax reporting law and procedure.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.