Audio Conferences
Form 1042-S: Develop a Roadmap to Compliance
February 22, 2007 at 02:00PM ET
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!
Dial in and Learn:
- Who's who? Is your payee a U.S. or non-U.S. person?
- What's reportable? A look at the income-sourcing rules.
- Documentation -- the Forms W-8, W-9, and 8233
- What's offered by tax treaty benefits?
- Do you need to withhold tax?
- Depositing withheld taxes
- The Form 1042 and Form 1042-S
- IRS audit and enforcement
This audio conference provided us with valuable information, that we will start applying immediately!
— T. Carolson, AP Supervisor, University of Nebraska at Omaha
FEATURED FACULTY:
Marianne Couch, Esq. Research Director, Balance Consulting, Inc.
Marianne Couch is Director of Research at Balance Consulting. She is a licensed attorney and an experienced presenter of tax information reporting educational programs. She has been a member of the faculty at the IAPP Annual Forum and IOMA Accounts Payable conferences. She is a member of IRPAC, the Information Reporting Program Advisory Committee to the Internal Revenue Commissioneer.
The speaker did a great job of explaining some complex topics. She was easy to listen to and easy to understand. Also, the question and answers at the end was very helpful.
— L. Lanier, Accountant, Utility Engineering Corporation
Purchasing
AP Certification
Receive 1.5 CEUs toward APM, APS, or APD recertification! About the Accounts Payable Certification Programs: The new credentialing plan is designed to establish standards for the profession and recognize accounts payable professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the accounts payable body of knowledge.
Focus Areas |
Product Group |
 Accounts Payable Corporate Financial Management CPA Firm Management Design Firm Management Law Firm Management Payroll |
Audio Conferences & Webinars |