This is the Early Release of 1042-S Pro for 2017.
*Please refer to IRS instructions for full detail of 2016 changes (http://www.irs.gov/pub/irs-pdf/i1042s.pdf)
- Built in reports have been updated form the form changes.
- All default maps and sample import files have been updated for 2017.
- Print layouts for all copies have been updated for 2017.
- All help files have been updated for 2017.
- TIN Type Code (Has been changed to Reserved on Publication 1187 & removed from import sample)
- New box, "Unique Form Identifier"
- This new field is required and must be a number between 1,000,000,000 and 9,999,999,999, and must be unique for the EIN.
- A new business rule on manual entry and import has been added to ensure the number meets the above criteria.
- This update will automatically assign a unique form identifier to any 2017 1042-S forms currently in the software during the update process.
- During manual entry or import the software will automatically assign a unique form identifier if it is not provided by the customer.
- New box, "Amendment No."
- This new field may be blank (not a correction) or a running number sequence from "1" to "99".
- This field is controlled internally by the software's correction process.
- New and Updated 1042-S business rules.
- New and Updated Box 1 income codes, Box 3a & 4a exemption codes, and Chp 3 & Chp 4 status codes. IMPORTANT: See the complete list of code changes below
- Pro-Rata indicator moved to new Box 15
IMPORTANT: Please review the following 2017 1042-S code changes and make any required changes to your data or imports.
Publication 1187 see http://www.irs.gov/pub/irs-pdf/p1187.pdf
Publication 515 Withholding on Tax on Nonresident Aliens and Foreign Entities http://www.irs.gov/pub/irs-pdf/p515.pdf