We filed our original Form 1042 by the due date, but the IRS does not show ever receiving our amendment. Is there a separate and unique penalty just for failure to file an amended Form 1042?

Follow

You say you filed the 1042 by the due date; then you say the IRS does not show ever “receiving our amendment”—from which I infer that you did send an amendment. Is that correct?  If you did, then you should be able to forward a copy of the (dated) amendment to the IRS without penalty (or if you receive a notice of penalty, then provided the information and documentation in your abatement letter).

But your actual question asks if there is a penalty for failure to file an amended 1042. The answer is yes—as in any reporting, if you discover an error, you should file an amended return as soon as you discover it, along with form 1042-T.  See Instructions for Form 1042-S, page 27.  The standard penalties apply for failure to file an amended return—see page 17 of the Instruction for Form 1042-S

Have more questions? Submit a request

Comments