Form 1042-T West Valley City Utah 2024-2025

Form 1042-T West Valley City Utah: What You Should Know

The form is then used to calculate the tax due to the nonresident (or resident) alien.  If the Form 1042-T is sent to the Internal Revenue Service with a copy of the W-8 certification, then the Form 1042-T may also be used to notify the IRS if the foreign vendor has  earned income in a foreign country and if the payer has not sent Form W-8, which is required prior to filing Form 1042. If the Form 1042-T is not sent with a copy of the W-8 certification, then the Form 1042-T is used to notify the IRS if the nonresident or resident has received any income from sources other than the United States. The form will also assist U-M in assisting the IRS in determining whether a non-resident or resident non-resident has income from sources other than the United States. Nonresidents who have tax or other responsibilities and residents that have no tax or responsibility for these responsibilities need to use Form 1042-T. Nonresidents may use Form 1042-T if the total reported foreign source income exceeds 50,000. Resident employees of U-M who have a tax responsibility under 10 Code of Federal Regulations §§ 31.3(a)(4)-(c)(2) or 31.3(a)(5)-(c)(2) and whose foreign source income is greater than 3,000 may use Form 1056-R, U.S. Tax Return for Employees Filing Status Under Section 274(a), FMR1(S) or FMR4(S) in lieu of Form 1042-T, if the reportable foreign source income does not include any itemized deduction information. The employee must report all other income and include the Form 1040 as part of their federal income tax return if they use Form 1042-T. If you have a question about the forms or if I am out of the office on campus, please phone or email me. If the foreign source income is from a joint return or from a separate return filed by all the spouses in a single calendar year, a separate Form 1042-T is required. If the nonresident paid the income or earned the income from any income source other than the United States, Form 1042 is not applicable.

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