According to the IRS form 1042-S is used to report amounts paid to foreign persons, and to report amounts withheld under Chapter 3 of the Internal Revenue Code or to report distributions of effectively connected income by a publicly traded partnership or nominee. The form is not used to report anything that can be reported on a W-2 or 1099 type form.
1042-S forms must be both mailed to the recipient and filed with the IRS by March 15th (or the next business day if March 15th is on a weekend or holiday). Unlike other form types you do not get an extension of the due date simply by e-filing.
Not only is Advanced Micro Solutions’ 1099-etc your solution for W-2 software, 1099 software, and payroll software, it is also your 1042-S software solution. The form can be printed on plain paper using our Software Generated option or filed electronically, if needed, using one of our two e-filing options: E-File Direct and E-File Services.
E-File Direct allows you to file an unlimited number of W-2, 1042-S, or 1099 type forms directly with the appropriate agency for a single E-file option purchase. To use E-File Direct you will need to register with the SSA and/or IRS as a transmitter.
E-File Services is through a third party transmitter and is charged on a low per-form basis rather than being an E-file option purchase. E-File Services can also print and mail forms to the preparer or client, for an additional charge per form. To use E-File Services you do not need to register with the SSA and/or IRS as a transmitter.
1042-S information can either be entered directly in our data entry screen or imported from an external file (including delimited text files or straight from Excel using copy and paste).
Advanced Micro Solutions offers a free DEMO so that you can be sure that our software will work for you. Free Technical Support is offered Monday thru Friday from 8 AM to 6 PM central time, with extended hours in January and April.