The 2025 statement of non-US individuals’ income subject to withholding and its instructions were released Dec. 16 by the Internal Revenue Service.
The 2025 Form 1042-S, Foreign Person’s US Source Income Subject to Withholding, includes a new Box 7d checkbox “to indicate a Form 1042-S is being filed to revise an amount subject to withholding in a withholding rate pool to report to a specific recipient,” the IRS said in the instructions.
Two new status codes and three new income codes are included on the form, but the new income codes are optional to use in 2025, the IRS ...
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