Cary North Carolina online Form 1042-S 2025

Cary North Carolina online Form 1042-S: What You Should Know

All payees except foreign persons (not individuals) that have been issued a Form (1042-S)  from the IRS must prepare Form 1042-S by using the following forms and instructions: Form 1042-S W-2-Form 1040. For all mayors except any payee, enter all amounts on the proper line. Enter the total amount of taxes withheld and paid over to foreign persons. Note : Do not put any amount with respect to individual returns. Do not put any amount with respect to Forms 1040A(X) and 1040EZ(X). Do not place any amount after lines 13, 15, and 16 of the Schedule H for foreign mayors (see IRM 25.25.15). Enter the following amount in the “Other Payments” area of Form 1042-S : Payment to a Foreign Person: Enter the total amount of taxes withheld and paid over to foreign persons. Enter the foreign person's name in parentheses, such as “(Somalia).” If you have multiple foreign persons, leave this space blank. If you do not wish to include a foreign person's name, just put the amount of withholding tax withheld for the year in brackets in the other columns. Example: 14000.00. Example: 2,250.00. Enter in “Other Payments” area of Form 1042-S any amount withheld to pay to a foreign person from a foreign source and not included in the “Other Payments” category of Forms W-2 for the mayor; see IRM 25.25.15. Example 1: Taxpayers who have already entered any amount to withhold from this Form W-2 for the mayor. Enter in “Other Payments” area, 3,250.00. Example 2: Individuals who owe more than 10,000 on Federal income tax withheld from their pay for a payee and have not yet entered any amount to withhold from this form. Enter in “Other Payments” area 3,000.00. Example 3: Taxpayers reporting an amount under 10,000 to withhold from their gross wages but have not entered any foreign source information for the payee. Enter in “Other Payments” area 12,250.00. Note : Do not include foreign source information for individuals who filed a joint return and did not enter foreign source information for themselves.

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