Online 1-DAY CLASS: BASIC FORM 1042-S / FATCA / FORMS W-8 TAX COMPLIANCE TRAINING (LEVEL 1)
Basic tax compliance for the requirements to determine status, withhold U.S. tax and file IRS Form 1042-S for payments to foreign entities and foreign individuals. Addresses issues under Code chapter 3 (withholding at source) and chapter 4 (FATCA, the Foreign Account Tax Compliance Act). Includes review of Forms W-8 for certification of status, rules for presumption of status in the absence of certification, federal deposit and Form 1042 filing for withholding tax liabilities, preparing Forms 1042-S, and pending regulations for cloud-based transactions.
Learning objectives:
Distinguish between payments to U.S. persons (reportable on Forms 1099) and payments to non-US persons (reportable on Forms 1042-S and 1042)
Recognize the required elements for validity of W-8 forms and Form 8233 which certify foreign beneficial owners of income
Identify payments reportable on IRS Form 1042-S
Determine federal income tax withholding
Prepare IRS Forms 1042-S and 1042.
Cokala’s 2025 LIVE ONLINE Form 1042-S Level 1 class runs from 11a.m. to 5p.m. Eastern time and is offered on:
Thursday, October 16
Thursday, November 20
Standard class fee $480, or $440 if registrant’s company is a Cokala tax technical advisory support subscriber.
Basic tax compliance for the requirements to determine status, withhold U.S. tax and file IRS Form 1042-S for payments to foreign entities and foreign individuals. Addresses issues under Code chapter 3 (withholding at source) and chapter 4 (FATCA, the Foreign Account Tax Compliance Act). Includes review of Forms W-8 for certification of status, rules for presumption of status in the absence of certification, federal deposit and Form 1042 filing for withholding tax liabilities, preparing Forms 1042-S, and pending regulations for cloud-based transactions.
Learning objectives:
Distinguish between payments to U.S. persons (reportable on Forms 1099) and payments to non-US persons (reportable on Forms 1042-S and 1042)
Recognize the required elements for validity of W-8 forms and Form 8233 which certify foreign beneficial owners of income
Identify payments reportable on IRS Form 1042-S
Determine federal income tax withholding
Prepare IRS Forms 1042-S and 1042.
Cokala’s 2025 LIVE ONLINE Form 1042-S Level 1 class runs from 11a.m. to 5p.m. Eastern time and is offered on:
Thursday, October 16
Thursday, November 20
Standard class fee $480, or $440 if registrant’s company is a Cokala tax technical advisory support subscriber.
Basic tax compliance for the requirements to determine status, withhold U.S. tax and file IRS Form 1042-S for payments to foreign entities and foreign individuals. Addresses issues under Code chapter 3 (withholding at source) and chapter 4 (FATCA, the Foreign Account Tax Compliance Act). Includes review of Forms W-8 for certification of status, rules for presumption of status in the absence of certification, federal deposit and Form 1042 filing for withholding tax liabilities, preparing Forms 1042-S, and pending regulations for cloud-based transactions.
Learning objectives:
Distinguish between payments to U.S. persons (reportable on Forms 1099) and payments to non-US persons (reportable on Forms 1042-S and 1042)
Recognize the required elements for validity of W-8 forms and Form 8233 which certify foreign beneficial owners of income
Identify payments reportable on IRS Form 1042-S
Determine federal income tax withholding
Prepare IRS Forms 1042-S and 1042.
Cokala’s 2025 LIVE ONLINE Form 1042-S Level 1 class runs from 11a.m. to 5p.m. Eastern time and is offered on:
Thursday, October 16
Thursday, November 20
Standard class fee $480, or $440 if registrant’s company is a Cokala tax technical advisory support subscriber.