What form is used to report U.S. source income paid to foreign persons, and when must it be filed?
Understand the Problem
The question is asking for information about the specific form used to report U.S. source income that is paid to foreign persons and the conditions under which it must be filed. It presents multiple-choice answers regarding the form number and filing requirements.
Answer
Form 1042-S; it must be filed by March 15.
The form used to report U.S. source income paid to foreign persons is Form 1042-S, and it must be filed by March 15.
Answer for screen readers
The form used to report U.S. source income paid to foreign persons is Form 1042-S, and it must be filed by March 15.
More Information
Form 1042-S is a tax form used to report income paid to foreign persons from U.S. sources that is subject to withholding. The deadline for filing this form is March 15 each year.
Sources
- IRS Form 1042-S: Foreign Person's U.S. Source Income Subject to ... - access.tufts.edu
- What accountants need to know about Form 1042 filing requirements - tax.thomsonreuters.com
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