The IRS recently released its 2024 Form 1042-S which is used for reporting Foreign Persons’ U.S. Source Income Subject to Withholding. For the 2024 form update, aside from the form and revision year update to 2024, the only notable change is that Copy E, the Withholding Agent copy has been removed from the online form.
Final instructions have not yet been released for the form which for the 2024 tax year, will be required to be filed electronically by withholding agents that are not financial institutions if it is required to file 10 or more information returns during the year or is a partnership with more than 100 partners.
To view the complete form direct from the IRS Forms page, click here.
