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Form 1042 Reporting in Illinois

Immediate online access to this 82 page manual.
Copyright 2013
Online Reference Manual$79.00Add to Cart Add to Cart


Are you prepared? The IRS has increased audits of 1042 reporting.

In an increasingly global society, many U.S. payors are unknowingly subject to withholding tax obligations for payments to foreign individuals and entities. Understanding the rules for withholding on these payments can reduce your liability to the IRS. Purchase these reference materials and learn to identify when income is subject to withholding, evaluate the proper procedures to withhold and comply with the proper documentation. Order today to get the information you need to avoid potential IRS penalties.

Benefits for You
•Correctly determine the status of the income recipient
•Determine what income is subject to withholding
•Get tips on correctly completing Form 1042 as well as other related forms
•Know your tax obligations and keep your organization audit-ready

Learning Objectives
•You will be able to discuss source of income rules.
•You will be able to review status of income recipient.
•You will be able to describe the Foreign Account Tax Compliance Act - FATCA.
•You will be able to explain penalties.

Authors

Moderator: John M. Kelleher, CPA, Crowe Horwath LLP
Kristin N. Hanson, CPA, Crowe Horwath LLP
Ray Salvado, CPA, Crowe Horwath LLP