Boston Massachusetts Form 1042-S 2025

Boston Massachusetts Form 1042-S: What You Should Know

This form is for all payments (income, employment, business and other type of payments) including those for income tax, social security and federal unemployment tax that are paid to a foreign country. The agent reports this information on Form 1042-S to the Federal and State Tax Authorities. The filing schedule is at the back of the form. Form 1 can be updated after the deadline for filing the tax return (October 17, 2022), or the agent can amend this section of the form.  Form 1042-S: Foreign Person's U.S. Source Income Form 1042-S is a Statement of Withheld and Overage Payed (also called Form 1042-S). It provides information on your income taxes that you might pay and the withholding that you must make to pay any such taxes. If you file jointly with a spouse, you will need Form 1040 if you would be subject to a tax on worldwide income, or Form 1040A or 1040EZ, for a joint return subject to an information return. Form 1042-S also serves as a record to determine whether a U.S. resident is a nonresident alien. For more information, visit IRS.gov Form 1098 | Massachusetts Department of Revenue Form 1098 is used by an independent taxpayer (one not subject to U.S. income tax, like an individual under age 70 or someone covered by a retirement plan) who has had income from sources within Massachusetts in the last three tax years, and has either: Had no Massachusetts income for tax years 2025 and 2013 Exempted income from U.S. income tax for these tax years Had any Massachusetts income for either 2025 or 2025 If the taxpayer had over 12,500 in income for any portion of 2025 or 2013, the individual is considered to have a Massachusetts base year exemption of 1,500 and will be exempt from U.S. income taxes on such income unless it exceeds the exemption amount. If the total of federal and Massachusetts income from all sources for 2025 is 45,600 and the taxpayer has adjusted gross income as defined by the IRS of up to 90,000 for either 2025 or 2013, the taxpayer has a Massachusetts base year exemption of: 2,000 Example The taxpayer has earned income for tax years 2025 and 2025 and has over 12,500 of U.S. income (and under 2,000 of base year income for 2013) from both sources within Massachusetts.

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