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2013 Form 1042-S: Explanation of Income Reporting for Foreign Nationals Princeton University will distribute the 2013 Form 1042-S to employees and students no later than March 15, 2014. The following

How to fill out 2013 form 1042-s

How to fill out 2013 form 1042-s:

1. Obtain the form: You can find the 2013 form 1042-s on the official website of the Internal Revenue Service (IRS) or by visiting your local IRS office. You may also request a copy to be mailed to you.
2. Provide personal information: Start by filling out your name, address, and tax identification number (TIN) on the designated fields of the form. Make sure to double-check the accuracy of the information provided.
3. Report income information: Section 1 of the form requires you to report the details of the income payment being made to a foreign person. This includes the recipient's name, country of residence, and the specific income code.
4. Determine tax withholding: In Section 2 of the form, you need to calculate the amount of tax withheld from the payment. This depends on various factors such as the recipient's country of residence and tax treaty provisions, among others. It is crucial to accurately determine the withholding tax based on the relevant regulations.
5. Provide treaty claims, if applicable: If there is a tax treaty between the recipient's country of residence and the United States, the recipient may be eligible to claim a tax exemption or a reduced tax rate. These treaty claims should be reported in Section 3 of the form, providing the necessary details and applicable treaty articles.
6. Complete additional information: Sections 4 through 8 of the form may require additional information depending on the specific circumstances. This may include details about the withholding agent, explanation of treaty claims, and any special rates or conditions.
7. Review and sign: Before submitting the form, carefully review all the information provided to ensure its accuracy and completeness. Once satisfied, sign and date the form as required.

Who needs 2013 form 1042-s?

1. Non-U.S. residents receiving income from sources within the United States: The 2013 form 1042-s is primarily intended for individuals who are not U.S. residents but have received income subject to withholding in the United States. This includes various types of income such as salaries, wages, scholarships, fellowships, royalties, and dividends, among others.
2. Withholding agents: Businesses, educational institutions, and other entities serving as withholding agents are required to complete and provide the 2013 form 1042-s to foreign recipients of income. This form serves as a reporting mechanism to inform both the IRS and the recipient about the income and withholding taxes.
3. Tax professionals and accountants: Tax professionals and accountants who assist non-U.S. residents with their U.S. tax obligations may need to use the 2013 form 1042-s to accurately report and calculate the withholding taxes for their clients.

Note: It is important to consult with a tax professional or refer to the official IRS guidelines for specific instructions and any updates related to the 2013 form 1042-s.

For pdfFiller’s FAQs

What is form 1042-s - princeton?

Form 1042-S (Princeton) is a United States Internal Revenue Service tax form used to report income paid to foreign persons, including non-resident aliens.

Who is required to file form 1042-s - princeton?

Any withholding agent who has withheld or paid an amount of income subject to withholding must file Form 1042-S.

How to fill out form 1042-s - princeton?

Form 1042-S is filled out by the withholding agent who paid the income subject to withholding. The form requires detailed information about the recipient of the income and the amount withheld.

What is the purpose of form 1042-s - princeton?

The purpose of Form 1042-S is to report income paid to foreign persons and to document the amount withheld for tax purposes.

What information must be reported on form 1042-s - princeton?

Information such as the recipient's name, address, and taxpayer identification number, as well as the amount of income paid and the amount withheld must be reported on Form 1042-S.

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