Form 592 Resident and Nonresident Withholding Statement - California

What Is Form 592?

This is a legal form that was released by the California Franchise Tax Board - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 592 Resident and Nonresident Withholding Statement?
A: Form 592 is a tax form used in California to report withholding taxes on income paid to nonresident individuals and entities.

Q: Who needs to file Form 592?
A: Anyone who is required to withhold income tax from payments made to nonresident individuals or entities in California needs to file Form 592.

Q: What income is subject to withholding and reported on Form 592?
A: Income subject to withholding and reported on Form 592 includes California source income such as rented or leased real estate, royalties, or payments to independent contractors.

Q: When is Form 592 due?
A: Form 592 is due on or before the last day of the month following the quarter in which the withholding occurred.

Q: Is Form 592 required for residents of California?
A: Form 592 is not required for residents of California. It is only required for nonresident individuals and entities.

Q: What are the penalties for late or incorrect filing of Form 592?
A: Penalties for late or incorrect filing of Form 592 can include interest charges, a penalty based on the amount of tax not withheld, or additional penalties for intentional disregard of the filing requirements.

Q: Does Form 592 apply to income earned outside of California?
A: No, Form 592 only applies to income earned from California sources.

Q: Do I need to attach Form 592 to my tax return?
A: No, Form 592 should be retained for your records and does not need to be attached to your tax return.