14 Jul 2025
💼IRS Seeks Comments on Forms 1042 and 871(m) Transactions
Agency Collection Activities; Requesting Comments on Form 1042, Schedule Q (Form 1042), Form 1042-S, Form 1042-T, and Section 871(m) Transactions.
Summary
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The IRS is inviting comments on the information collection requirements related to Forms 1042, 1042-S, and associated documents, which impact businesses dealing with nonresident alien payments. Compliance with these requirements can affect tax withholding obligations, operational efficiencies, and overall burden on businesses.