What is Form 1042 – It’s used to report a foreign person’s income if it is sourced in the U.S. and subject to withholding. Who Must File 1042? Every withholding
What is form 5498 – Individual Retirement Arrangements (IRA) file 5498 for payments made in settlement of a reportable payment transaction. When You Need to File Form 1099-NEC? 5498 is
This Form 1099-NEC is used to report non-employee compensation; it is a new form as of the tax year 2020. This replaces form 1099-MISC Box 7 for reporting non-employee compensation.
Issuers of certain tax credit bonds (or their agents) and recipients of Form 1097-BTC from the bond issuer or agent, such as mutual funds or partnerships, must file this form.