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1042-S for 2014 Landing Page

The 1042-S program was completely re-written for compliance with FATCA (Foreign Account Tax Compliance Act), and with the new IRS forms and the new IRS e-Filing requirements. If you have any problems, questions or suggestions please e-Mail sales@1099Express.com or call 361-884-1500.

Here are some links of interest about FATCA compliance:

Cover Sheet to Update 2014 instructions to Form 1042-S
2014 Instructions for Form 1042-S (HTML)
2014 Instructions for Form 1042-S (PDF)
2015 Instructions for Form 1042-S (PDF)
How Tax Treaties Work
Read the Tax Treaty for any Country
Find the GIIN (Global Intermediary ID No.) for any FFI (Foreign Financial Institution)
FATCA Controversy - Charles Rangle Sponsor, signed by Barack Obama
IRS FATCA Home Page
New W-8 forms and instructions

Here is information about 1042-S for 2014:

www.1099Express.com/Screen2014.htm --New 1042-S Form and data entry screen, with many new boxes and changes.

The first release of the 1042-S Express for 2014 was released October 6, 2014.

The 1042-S software for 2014 has a completely new and different source file format (the file extension is *.T42) and a completely different IRS e-File format as mandated by the IRS (the file extension is *.txt).

IMPORTING: If you need to import your 2014 data from Excel, two new sample Excel spreadsheets are included with the 2014 program to demonstrate the new format and new headers required. To learn more, bring up Microsoft Excel and open the sample spreadsheet called "Ten42-Sample1-Import.xls". This spreadsheet is found in the C:\T2014 folder. Then copy the first 7 rows. Then switch to the 1042-S program, right click the grid, and choose "Paste From Excel by Header Name". Contact tech support at 361-884-1500 if you have any questions.

TESTING: Although 2014 1042-S software for 2014 has been tested for e-Filing, it's always a good idea to send a test file to the IRS fire site. Especially since this 1042-S is a new program. The IRS test site is available only from January 5th, 2015 through February 20th, 2015. When available, the IRS test site is https://FIRE.TEST.IRS.GOV Set up a new account, if necessary. Please contact tech support at 361-884-1500 if you have questions or problems with test files. However, do not wait until January to begin your 1042-S processing.

Bringing Files Forward: If your 1042-S foreign payees are mostly the same each year, you can open last years 2013 source file (.T42 file) with the new 2014 program. The 2014 program will convert the 2013 format to the new 2014 format by using the File Menu, then clicking "Open Pre-2014 T42 file."





Then you may change the tax year, change the money amounts, add or void a few payees by hand. Then save the file with a new name, using the File Menu, then "SAVE AS". This creates a .T42 file into the correct new format.

Thanks for using 1042-S software in the past.

1042-S Development Team
1099Express.com, Inc.




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