United States tax laws are hard enough for people to understand. It can become even more complicated for those who have income paid in the United States, but are not a resident, or a U.S. citizen and received an IRS Form 1042-S reporting US-source income.
For those with a US source income, it can seem like an endless maze. That is where partnering with an experienced tax professional like Fresh Start Tax Resolutions can come in handy. We can help you find the forms you need, and assist in preparing your tax return so that you can take care of your US tax obligations without paying more than you need to pay.
Why did I receive an IRS 1042-S Tax Form?
The IRS 1042-S Tax form is a Foreign Person’s U.S. Source Income Subject to Reporting form, that reports the amount paid to foreign persons including non-resident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts that are subject to U.S. income tax withholding.
A withholding agent must file an information return on Form 1042-S to report the amounts paid to foreign individuals that are reportable under the Internal Revenue Code. Every withholding agent, whether U.S. or foreign, who has control, receipt, custody, disposal, or payment of any fixed or determinable, annual or periodic U.S. source income over foreign persons, must file these forms with the IRS. Thanks to an ever-connected world, the IRS 1042-S Tax form is becoming a more common form that needs to be filled out.
About Fresh Start Tax Resolution Services
When it comes to Tax Resolution and settling debts with government institutions, you can’t afford to mess around – but nor can you afford to get in bed with “sales rooms” masquerading as a professional tax office. There’s simply too much at stake. And there are too many landmines along the path.
My name is Robert Kirnard. I am a licensed CPA, and able to represent you in front of the IRS. I have been doing so on behalf of clients (both local and national) now for years.
But what you DON’T need is to be bombarded by ruthless sales pitches and overbearing junk mail simply because your situation was picked up by some database somewhere, and you were targeted as a “hot lead”. Yes, this is how these operations can afford to advertise on national television and radio. They have a sales system, and they work it. Very hard.
Here’s the dirty secret of the national tax debt resolution industry: Almost all of your contact will be with a commissioned salesperson. A closer. And their mission is to close YOU.