Questions about boxes on Form 1042-S

February 22, 2021

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Q. I have several questions about the boxes on Form 1042-S and how to correctly fill them in. A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) Q. Box 1- Income Code: Not sure what the difference is between 42 and 43? A. The IRS takes the position that US source income paid to individual artists and athletes is subject to 30%…

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