Form 1042

(redirected from 1042 Form)

Form 1042

A form that one files with the IRS to report withholding of taxes from the U.S. income earned by a foreign person. It is also used to report the 2% excise tax on certain payments of foreign procurements. The form is filed annually. See also Form 1042-S.
References in periodicals archive ?
The offering creates 1099 & 1042 forms for IRS submission with full SSN and EIN validation and automatically holds payments until the form is completed by the beneficiary.