Who Must file Form 1042-S

Who Must file Form 1042-S

 

IRS ( Internal Revenue Service ) of United state of America is a Income Tax Department like in India. The IRS issue  instruction to all origination in USA to file 1042 S Form where payment made to non resident.

Every withholding agent must file  a form 1042 S. Foregin person’s U.S. A Source income subject to withholding to report amounts paid to foregin persons that are described under amounts subject to NRA withholding and reporting even if withholding  ( Some amount deduct like TDS) is not required on the payments.

 A Separate Form 1042 -S is required for:

Each recipient regardless of whether or not you withheld tax.

Each type of income that you paid to the same recipient.

Each tax rate ( if you withheld at more than one tax rate) of a specific type of income that you paid to the same recipient.

Any person can also file electronical form

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