Instructions for the 2024 form reporting nonresidents’ US-source income were released Feb. 5 by the Internal Revenue Service.
The finalized instructions for the 2024 Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, contained a change from the draft released Dec. 4, 2023, as well as the 2023 form’s instructions, the IRS said.
The 2023 instructions provided an exception to the normal reporting of a Global Intermediary Identification Number in the proper boxes on the form. “This exception to the reporting of a GIIN has been removed from these instructions,” the IRS said.
Form 1042-S is among the forms ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.