1042 reporting and "withholding agents"

May 31, 2019

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Q.┬áTypically foreign vendors are set up in our system after the W-8 forms are received/reviewed and a sanction search is complete. My understanding is that even if paying the vendor through an Epayable program, that the 1042 reporting it required. Another scenario: Recently I was asked if an employee could pay a foreign vendor for the software via their personal credit card and then be reimbursed through expense reimbursement so that they would not have to wait to have the vendor complete the…

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