When: February 22, 2007 at 02:00PM ET (USA)
In conjunction with Balance Consulting!
Form 1042-S, used to report a foreign person’s U.S. source income subject to withholding, is one of the more complex forms you’ll encounter as an AP professional. The reporting details can be mind-boggling.
On top of this complexity, the Internal Revenue Service has officially begun a large enforcement effort involving withholding and reporting compliance for payments to nonresident aliens. 1042-S penalties can be severe – up to $250,000! And that’s just the reporting penalty. This amount does not include back-taxes, interest on the back-taxes, and penalties for late-deposit of the taxes.
How confident are you that your 1042-S procedures are underpinned by a solid foundation? Join IOMA and Balance Consulting for this informative audio conference. Tax information reporting expert Marianne Couch will explain many basic terms and concepts to help you understand the world of Form 1042-S reporting. In just 90 minutes, you’ll gain insight into what the IRS expects when you make a payment to a nonresident alien, plus this program will provide you with an overall framework for handling Form 1042-S that can be tailored to your individual situation!
See full Details.
Posts
