Form Instruction 1042-S for Waterbury Connecticut 2024-2025

Form Instruction 1042-S for Waterbury Connecticut: What You Should Know

For more information on the withholding rules for foreign individuals, see IRS Publication 929.4. Box 8 is the place to enter the amount of the “additional information return.” This includes the mayor's tax ID number, if applicable, and the payee's identification number and social security and withholding instructions. Note: The payer has to submit the 1040NR/B and form 1040NR/A for each payment to a specific payee. See IRS Publication 929.5. Box 9 is the place to enter gross amounts paid to a single recipient. This includes the amount to the Federal Government (box 3 and 7 on 1040NR) and any amount to a nonresident of the U.S. (box 9 on 1040NR). If gross amount to a national of that country is to be included, then enter “N/A.” For certain foreign payers, see Publication 929. 6. For payments of more than 10,000, enter on box 12 what the recipient's tax ID number was. This box also must be completed for a nonresident of the U.S. (box 1 on the 1040NR). For more information, see Publication 929.7. Enter on line 21 the amount of the “additional information return.” Box 12 is for 1099 reporting. For more information, see Publication 929.8. If the payee also received payment by check, the payee should enter the amount received on line 21 in box 3 and the payer's tax ID number on line 13. If you are uncertain whether another payee is the same mayor as the payee who paid on your behalf, you will need to complete the tax ID of the other payee on line 9. This is necessary if the other mayor was not the same as the payer who paid. For example: You receive a check for 5,000, for which you pay tax on only 4,950. You then receive another check for 10,000. Line 26 shows both checks, the second for 11,500. A new line 27 shows the amount of 17,500 for the other payee (you). If there is some doubt about this, or if you are unsure about the size of any payment you have received in the last five years, you should check with your tax advisor or accountant.

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