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1099 / 1042-S
Q. Do we need to issue 1099-NEC to an accounting firm for services we received (such as tax return… Read More
Q. We are a CPG company. I've ready conflicting documents regarding ingredient suppliers and… Read More
Q. 1. We are a government entity, occasionally an elected official will reimburse a non-employee… Read More
Q. We are trying to determine the responsible party for reporting of gift cards given to our… Read More
While reporting payments to U.S. persons (“Form 1099”) is often top of mind in information reporting, payments to foreign persons (“Form 1042” and “Form 1042-S”)
… Read More
New Treasury regulations released in 2025 finally answer a long-standing question for Accounts Payable teams: how should Software as a Service (SaaS) and other cloud transactions be classified for
… Read More
As compliance season progresses, the IRS has issued several critical updates affecting e-filing processes and Form 1042 requirements. AP and finance departments must stay informed about these changes… Read More
Q. Our County runs a youth program and sometimes we give kids gift cards, scholarships, or money.… Read More
Q. An individual has reached out asking to amend their 1042-S form to add in their US tax ID, which… Read More
Q. We purchased a product that was delivered to our University, and the vendor delineated the… Read More
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