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1042 S
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taxes---taxes
Level 3
06-27-2020
03:41 PM
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Client is a dual resident of the US and Canada (Canadian citizen, US resident). Resided in Canada for close to 15 years. His company is incorporated in Canada. He is a truck driver who crosses the border weekly. Did a few jobs for a US company and he was issued a 1042-S using his US social security # but in the name of his Canadian (incorporated) company. What should the general approach be here?
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Taxes-by-Rocky
Level 7
06-28-2020
11:59 AM
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You might want to start by obtaining the certification form your taxpayer provided to the US entity (i.e., W-8 or W-9). That might help you understand why the US entity issued the Form 1042-S the way they did.
taxes---taxes
Level 3
06-29-2020
07:26 PM
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Doesn't appear to be a W-9 as he never received a 1099. Boxes 7 and 10 are both '0' on the 1042-S and my understanding is that if this is the case, then the form is just for informational purposes only. New territory for me so just seeking a bit of old fashion guidance on how to approach with the client.
