Discussion Archives:Form 1042-S

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Discussion Forum Index --> Advanced Tax Questions --> Form 1042-S

Discussion Forum Index --> Tax Questions --> Form 1042-S

TChaney (talk|edits) said:

23 December 2010
I have a client who ownes a company that manages performing artists, including some foreign artists. She recently put on a show at a Nevada casino and was issued a 1042-S, because she contracted foreign artists even though she is an American citizen. The 1042-S was issued for the entire amount paid to her (she did payouts from this $) and 30% tax was withheld on the entire amount. Does she now need to issue Form 1042-S to the foreign artists showing what she paid them and allocate a portion of the 30% withheld under her SSN to them even though they will not be filing a US tax return, and do not have any US identifying info (ssn/tin,ein, etc)? If not then is she complying with the reqirement to withhold 30% on income paid to foreign artists? The artists received their entire fee from my client, not their fee less 30% tax. So should the 1042-S amounts be their fee grossed up to inclued the 30%? Please help.
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