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18 April 2016

Law firm clients: IRS Foreign Payments Practice group's increasing scrutiny of non-financial multinationals is pertinent to certain law firms

A new EY Tax Alert provides information on the increasing number and scope of audits that the IRS Foreign Payments Practice (FPP) group is performing on multinationals reporting on Forms 1042 (Annual Withholding Tax Return for U.S. Source Income of Foreign Persons) and 1042-S (Foreign Person's U.S. Source Income Subject to Withholding) and certain related issues. This development could be relevant to law firms issuing Forms 1042 to nonresident partners and/or associates.

Contact Information
For additional information concerning this Alert, please contact:
 
Law Firm Industry practice
• Pankaj Khosla(212) 773-3226

Document ID: 2016-0703

 

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