Get Answers Support Tax Filings & Payments Other Forms Form 1042 What is Form 1042? Last modified 3/6/2024 7:38:48 AM EST Form 1042, ‘Annual Withholding Tax Return for U.S. Source Income of Foreign Persons,’ is used by withholding agents to report tax withheld on certain U.S. income paid to foreign individuals, entities, or governments. It applies to payments like interest, dividends, royalties, and other types of income subject to withholding under U.S. tax law. Was this helpful? Yes No Related Questions What are the new updates in Form 1042 for the 2023 Tax Year? How do chapter 3 or chapter 4 codes apply in Form 1042? What is Tax Liability in Section 1 of Form 1042? When is the deadline to file Form 1042? Go to Home Page Need more help? Get in touch with our dedicated support team Contact Us (704) 684-4751 support@taxbandits.com Sign Up for a FREE TaxBandits Account! The Smart CPA Choice Register Now Already have an account? Sign in