Form 1042-S is a tax form used by US-based companies to report income paid to contractors not based in the US. We generate this form for each US-based company (not the contractor) to enable the company file their taxes. Form 1042-S is generated based on the following criteria:
- Company is based in the US
- Contractor not based in the US
- Contractor was paid more than 0 USD in the relevant tax year via the Remote platform
Who fills Form 1042-S out?
We fill out part of the 1042-S with the information we have. The Company is responsible for completing the rest of the form and sharing Copies B, C, and D with the contractor.
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