McKinney Texas Form Instruction 1042-S 2024-2025

McKinney Texas Form Instruction 1042-S: What You Should Know

S. Educational institution. An employee or student who receives a Form 1042-S must complete a separate 1040-ES, 1040-NR, and 1040NR-EZ for the alien (or, in certain limited circumstances, a business controlled by the alien). These forms must come from Form W-PIP, Form 1040-INT, and Form 1040-S to satisfy the U.S. withholding requirements. Forms W-2 & 1042-s contain information about income, withholding, and allowances for self-employed wage earners. To understand your 1042-s, check out our articles on “W-2s or 1042-s?” to figure things such as if your employee was self-employed or paid out wages. To help you understand W-2s and 1042-S, check out the IRS' W-2 FAQs and 1040-ES FAQs. To figure out if you need a Form 1040-ES or 1040-NR, consult the U.S. Department of the Treasury's Guide to the U.S. Individual Income Tax (PDF). The IRS Guide to the U.S. Individual Income Tax (PDF) can also be accessed online at IRS.gov. The IRS has additional information on U.S. citizens in the section below about income from U.S. sources. The Forms W-2 and 1042-s do not include information on self-employment. To understand your 1040-S or 1040EZ, consult the U.S. Department of the Treasury's Guide to the U.S. Individual Income Tax (PDF). The Guide to the U.S. Individual Income Tax (PDF) can be accessed online at IRS.gov If you are not sure if your income is from U.S. sources or not, consult our article, “1040-ES: How Much is from U.S. Sources?.” For U.S. citizens living abroad, Form 1040-EZ is your guide to figuring your income, withholding, allowances for self-employed wage earners, and information on foreign sources of income and withholding. The income, withholding, allowances for self-employed wage earners, and foreign sources of income and withholding are described in sections 4. E in our 1040-EZ (PDF).

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