Forms 1042 and 1042-S: What You Need to Know Before Filing

Presented on:
February 20, 2019 10:00 AM PT
1 hour

Does your business file Forms 1042-S and 1042 for payments to foreign vendors, investors, or related entities? As the IRS continues to place increased audit scrutiny on these forms, additional filing precautions could help your business avoid costly penalties this reporting season.

Join us for a webcast where we’ll define Forms 1042-S and 1042 filing obligations, review common filing issues and errors, and cover how to prevent penalties and noncompliance. We’ll also cover the following key points:

  • Distinguishing payments of reportable income versus nonreportable income
  • Avoiding common pitfalls of Forms 1042-S and 1042 reporting
  • Remaining compliant and preventing common penalties
  • Understanding related deadlines and available extensions


Jill Dymtrow, Director, Moss Adams

Jill has assisted clients with information reporting and withholding obligations since 2000. She has extensive experience guiding US and foreign withholding agents through complex technical compliance issues involving sections 1441 and 3406, Foreign Account Tax Compliance Act (FATCA), and the Common Reporting Standard (CRS). In addition to serving large US and offshore banks, she’s worked with investment management firms, energy, pharmaceutical, entertainment, and biotech companies.

Erin Fennimore, Director, Moss Adams

Erin provides consulting services in the area of information reporting and withholding, focusing on the 1441 Regulations, the Foreign Account Tax Account Compliance Act (FATCA), and the Common Reporting Standard (CRS). While she primarily focuses in the private equity and venture capital sector, Erin has been involved in all aspects of advising both multinational corporations and financial institutions on compliance with information reporting and withholding regulations. She has also led several audit related engagements relating to IRS reporting penalties under the 1441 regulations.

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