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E-file Form 1042-S Extension Online for the 2023 Tax Year

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Understanding Form 1042-S Tax Extension

  • File form 8809 with the IRS to get an extension for Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding
  • Once the IRS accepts Form 8809, you will get an automatic extension for up to 30 days to file the Form 1042-S.
  • The IRS recommends E-file form 8809 for quicker processing and regular updates on IRS status and approval.

The Deadline to file Form 1042-S Tax Extension is

March 15, 2024

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An Overview of Form 1042-S

Form 1042-S is a year-end federal tax form that US-based individuals, businesses, and institutions must file to report the amounts they paid to foreign individuals or entities. Its official name is ‘The Foreign Person’s US Source Income Subject to Withholding.’ Form 1042-S applies to non-resident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts that are subject to income tax withholding.

Filing Deadline for Form 1042-S

The due date for U.S. withholding agents to file Form 1042-S with the IRS and furnish the recipient copy is March 15, 2024.

Penalties Associated with Form 1042-S

Penalties for late filing of Form 1042-S will vary based on the business size and when the Form 1042-S is filed. Here are possible penalties for late filing Form 1042-S with the IRS.

Time Limit Minimum Penalty Maximum Penalty
Filed within 30 days $60 /form $664,500 per year($232,500 for a small business)
After 30 days and before Aug 1, 2024 $130 /form $1,993,500 per year ($664,500 for a small business)
After August 1 $330 /form $3,987,000 per year ($1,329,000 for a small business)

Filing a Tax Extension for Form 1042-S

Withholding agents who need more time to prepare for their tax returns can request an extension of time by filing Form 8809 with the IRS. Withholding agents who file form 8809 on or before the original deadline will get up to 30 days of additional time from the IRS. The extension is automatic, and the withholding agents are not required to provide any reasons for requesting more time.

File your 1042-S Tax Extension with ExpressExtension

ExpressExtension, an authorized e-file provider, offers you a complete solution for filing your Form 1042-S tax extension to e-file Form 8809. With ExpressExtension, you can complete and e-file your 8809 extension form in minutes and receive instant IRS updates.

State Extension for Form 1042-S

In addition to filing a federal extension, some states require withholding agents to file an extension with their agency as well.

With ExpressExtension, you can fill out and download tax extensions for certain states.

How do I E-file a 1042-S Tax Extension?

You can complete and e-file Form 8809 in just 3 simple steps from any device.

  • Choose Form 8809 and provide Your basic business information.
  • Select the form you are requesting an extension (1042-S).
  • Enter the form details, complete the tax payment (EFW or EFTPS), and transmit the form to the IRS.
  • Our vibrant live support team is available to assist you during the filing process, reach out via email, phone, and live chat.

Avoid IRS late filing penalties by e-filing your 1042-S extension now!

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