Help Identify Errors: Master Form 1042-S with IRS’ Data Integrity Tool!

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e-News for Withholding Agents January 29, 2024
e-file Resources   IRS.gov Qualified Intermediaries (QI) News e-File for Large Business and International (LB&I) Other Useful Links Withholding Agent Qualified Intermediary FATCA Home Page Tax Professionals Home Forms and Instructions e-Services Internal Revenue Bulletins Taxpayer Advocate Service	Issue Number:    2024-01 Help Identify Errors: Master Form 1042-S with IRS' Data Integrity Tool! Are you a withholding agent concerned about Form 1042-S reporting? Have you tried the IRS Form 1042-S Data Integrity Tool? The IRS provides this free tool to assist withholding agents in improving compliance with Form 1042-S reporting and withholding. Here's how the tool can help: Identify potential errors: The tool performs a quality review of Form 1042-S data before submission to the IRS. Reduce filing risks: Minimize potential penalties and delays by increasing the accuracy of your data. Start using the FREE Form 1042-S Data Integrity Tool today! The tool does not change a withholding agent's obligations to file with the IRS and furnish a copy of the Form 1042-S to the payee. A withholding agent is responsible for correcting potential errors before submission to the IRS. The use of this tool or any other available tool that reviews information returns for potential errors, prior to submission to the IRS, may be considered in requests for penalty relief. Back to Top Thank you for subscribing to e-News for Withholding Agents, an IRS email service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically. Please Do Not Reply To This Message.

 

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