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Third Party Return of Electoral Expenditure FINANCIAL YEAR 202122Section 314AEB of the Commonwealth Electoral Act 1918 (Electoral Act) requires third parties to furnish a return within 20 weeks after
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Chapter 3 elections refer to the election of the Chapter 3 of the Internal Revenue Code, which deals with withholding of tax on nonresident aliens and foreign corporations.
Any person or entity making payments to nonresident aliens or foreign corporations that are subject to withholding tax is required to file chapter 3 elections.
Chapter 3 elections can be filled out by completing Form 1042 or Form 1042-S and submitting it to the IRS.
The purpose of chapter 3 elections is to ensure proper withholding of tax on payments made to nonresident aliens and foreign corporations.
Chapter 3 elections must include information on the payments made, the recipients of the payments, and the amount of tax withheld.
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