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1099 / 1042-S
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”)
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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
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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
Q. Our organization is a public university. Once our University files a 1099-C to the student and… Read More
Q. The 1099 amount we report is based on the payments that we have made, not the amount that the… Read More
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One of our law firms engaged work with an outside consulting firm. The invoice from the… Read More
Q. Is there a penalty for filing a 1099 for a corporation even if they are technically exempt from… Read More
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