Does anyone here have any information with respect to the tax form 5754* and how that may effect your filing of the 1042-s form?
The purpose of the 5754 form seems to be precisely for situations like this, and the rio refuses to touch it and is basically saying to do it yourself. But it seems like there is no way to do it yourself after the fact. Not to my knowledge anyways.
I spent the last two days grinding out the IRS help lines for info, and finally got to some guy who said something to the effect of that theyre legally obligated to recognize the forms and pay out accordingly if everyone provides their ITTN and signs off that they received it. The phone number for that particular branch of the IRS is 215 516 2000 extensions: (2) (3)
I was told to get whoever is in charge to contact them to sort it out. So I got in touch with Andy Rich who is the director of poker operations for the wsop. He was sympathetic, but made it sound like the issue has been raised before to no avail. I'm not sure if he called the number, but he did give me the number of someone high up in their accounting division and I'll be calling them tomorrow.
Does anyone know anything else?
*
http://www.irs.gov/pub/irs-pdf/f5754.pdf
edit: ive spoken to a few different accountants, and a few of the companies that specialize in recovering the 30%. none have any clue whatsoever how to handle these forms. it seems their only interest is to spit out the 1042-s forms as fast as possible, preferably with phony losses, get you to sign a liability waver, and scoop you for a ridiculous amount.