Final instructions for the 2022 Form 1042 were released Jan. 24 by the Internal Revenue Service.
Compared to the draft released Nov. 2, the final instructions for Form 1042, Annual Withholding Tax Return for US Source Income of Foreign Persons, mention that the form can be e-filed through Modernized e-File.
The form reports tax withheld from payments reported on Form 1042-S, Foreign Person’s US Source Income Subject to Withholding. Form 1042 must be filed by March 15 of each year.
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