About Form 1042, Annual Withholding Tax Return for U.S. Source Income ...-2025

Show details

4.9 out of 5

31 votes

The document is Form 1042-S, which reports U.S. source income subject to withholding for foreign persons. It includes details on income types, tax rates, exemptions, and withholding information required by the Internal Revenue Service (IRS) for nonresident aliens and foreign entities receiving U.S. income. The form serves as a record for both the recipient and the withholding agent regarding tax obligations and credits.

Here's how it works

01. Edit your 2023 form 1042 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send irs form 1042 s 2023 via email, link, or fax. You can also download it, export it or print it out.

The best way to change About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

With DocHub, making adjustments to your paperwork requires only a few simple clicks. Follow these quick steps to change the PDF About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... online free of charge:

Sign up and log in to your account. Log in to the editor with your credentials or click Create free account to examine the tool’s capabilities.
Add the About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... for editing. Click on the New Document button above, then drag and drop the file to the upload area, import it from the cloud, or via a link.
Modify your template. Make any adjustments required: add text and images to your About Form 1042, Annual Withholding Tax Return for U.S. Source Income ..., highlight information that matters, remove sections of content and substitute them with new ones, and add symbols, checkmarks, and fields for filling out.
Complete redacting the form. Save the modified document on your device, export it to the cloud, print it right from the editor, or share it with all the people involved.

Our editor is very intuitive and efficient. Try it now!

See more About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... versions

We've got more versions of the About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... form. Select the right About Form 1042, Annual Withholding Tax Return for U.S. Source Income ... version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2024	3.9 Satisfied (37 Votes)
2023	4.9 Satisfied (31 Votes)
2022	4.5 Satisfied (50 Votes)
2021	4.8 Satisfied (135 Votes)
2020	4.3 Satisfied (105 Votes)
2019	4.3 Satisfied (118 Votes)
2018	4.4 Satisfied (102 Votes)
2017	4.3 Satisfied (341 Votes)
2016	4.4 Satisfied (324 Votes)
2015	4.3 Satisfied (29 Votes)
2014	4.2 Satisfied (69 Votes)
2013	4 Satisfied (22 Votes)
2012	4.2 Satisfied (58 Votes)
2011	4 Satisfied (40 Votes)
2010	4.3 Satisfied (60 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What income is subject to 1042 withholding?

Nonresident Alien (NRA) Wages: Wages or compensation paid to non-U.S. persons in the U.S. are typically reported on Form 1042-S. This covers salaries, bonuses, and other compensation for foreign individuals not U.S. citizens or residents for tax purposes.

What is the IRS rule 1042?

Section 1042(a) provides that a taxpayer or executor may elect in certain cases not to recognize long-term capital gain on the sale of qualified securities to an employee stock ownership plan (as defined in section 4975(e)(7)) or eligible worker- Page 2 -2- owned cooperative if the taxpayer purchases qualified

Where do I report 1042 withholding?

If you have federal tax withheld in Box 7a or state tax withheld in Box 17a when you fill out Form 1042-S, you can enter this data on a Form 1099-MISC in the program. You must paper file your return in this instance and include Form 1042-S with your tax return.

What triggers a 1042 filing?

Use Form 1042 to report the following: The tax withheld under chapter 3 on certain income of foreign persons, including nonresident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts. The tax withheld under chapter 4 on withholdable payments.

Who needs to file Form 1042?

Every withholding agent or intermediary who receives, controls, has custody of, disposes of, or pays a withholdable payment (to which chapter 4 withholding applies) or an amount subject to withholding, must file an annual return for the preceding calendar year on Form 1042 unless an exception to filing applies.

2023 form 1042s

form 1042-s About form 1042 annual withholding tax return for us source income online Form 1042 instructions i received a 1042-s what do i do About form 1042 annual withholding tax return for us source income 2021 form 1042-s 2023 1042-s income codes Form 1042 instructions 2023

What is Form 1042 annual withholding tax return for US source income of foreign persons?

Form 1042, also Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, is used to report tax withheld on certain income of foreign persons. The employer only needs to submit Form 1042 to the IRS, not to their employee. Form 1042 does not have to be accompanied by a Form 1042-T.

Who is required to file Form 1042 electronically?

The regulations require the following types of withholding agents to e-file Form 1042 and Form 1042-S starting with their 2023 reporting (to be filed with the IRS in 2024): Financial institutions. Partnerships with at least 100 partners.