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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1042-S
for the current year.
IRS Form 1042-S Foreign Person's U.S. Source Income Subject to Withholding
What Is IRS Form 1042-S?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1042-S?
A: IRS Form 1042-S is a tax form used to report income and withholding for foreign persons who receive U.S. source income.
Q: Who needs to file IRS Form 1042-S?
A: Foreign persons who receive U.S. source income and have amounts subject to withholding need to file Form 1042-S.
Q: What is U.S. source income?
A: U.S. source income is income that is derived from a U.S. source, such as wages, scholarships, or royalties.
Q: What is withholding?
A: Withholding is the amount of tax that is withheld from a payment and paid directly to the IRS by the payer.
Q: What is the purpose of IRS Form 1042-S?
A: The purpose of Form 1042-S is to report the amount of U.S. source income paid to foreign persons and the amount of withholding applied to that income.
Q: When is IRS Form 1042-S due?
A: Form 1042-S must be filed with the IRS by March 15th, following the end of the calendar year, or by the 15th day of the 3rd month following the end of the fiscal year.
Q: Do I need to attach IRS Form 1042-S to my tax return?
A: No, you do not need to attach Form 1042-S to your individual income tax return. It is for informational purposes only.
Q: What happens if I don't file IRS Form 1042-S?
A: Failure to file Form 1042-S or to accurately report the required information may result in penalties imposed by the IRS.
Q: Can I e-file IRS Form 1042-S?
A: Yes, you can e-file Form 1042-S using the IRS's FIRE system (Filing Information Returns Electronically).
Form Details:
- A 8-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1042-S through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1042-S Foreign Person's U.S. Source Income Subject to Withholding
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