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

Qualified Intermediaries News January 29, 2024
Useful Links IRS.gov Qualified Intermediary Home FATCA Home Other Useful Links About Form 1042 Form 1042 Modernized e-File (MeF) About Form 1042-S Form 1042-S Data Integrity Tool IRS Guidance	Issue Number:    2024-02 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 the Qualified Intermediaries e-mail list, an IRS e-mail 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 from the Qualified Intermediaries mailing list. Please Do Not Reply To This Message. To subscribe to or unsubscribe from another list, please go to the Main Subscription Page on the IRS.gov web site.

 

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