I want to submit Form 1042 for a corporation. I filed Form1042-S to report the withholding tax under Chapter 3. Can I use TurboTax Business to file Form 1042 and how? Can I submit Form 1042 before submitting a federal tax return for 2020 so that I can pay tax using EFTPS?
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Forms 1042 and 1042-S are not supported by TurboTax and were due March 15th (unless you filed an extension).
TurboTax Business does not support Form 1042. You can download the form and instructions from the IRS website using these links:
Form 1042 should have been mailed by March 15, 2021 to:
Internal Revenue Service
P.O. Box 409101
Ogden, UT 84409
If you need more time to file Form 1042, you may submit Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns. Form 7004 does not extend the time for payment of tax. Form 7004 is available in TurboTax Business.
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