Ask Experts Questions for FREE Help !
Ask

Received 1042-S - Need some information Thanks

Asked Apr 4, 2009, 10:22 PM — 2 Answers
Hi,

I am a non-US person with a brokerage account in US. I recently received a 1042-S for dividend income that I received where witholding taxes were witheld at the rate of 30%. I don't believe that my country of citizenship has any tax treaties with US for taxes.

So I had a few questions

- Is there a way to file something with the IRS, which will result in me getting some or all the money back (in case there is some income limits for which the taxes are less than 30% or the rate if you file is less than 30 % etc). If yes any information on what to file would be greatly appreciated.
- If not, am I still obligated to file anything with the IRS or I can just go in my merry ways with no dealing with the IRS (assuming no money is going to be returned if I correspond with IRS).

Thanks for the help.

Search this Thread
Share |
2 Answers
IntlTax's Avatar
IntlTax Posts: 812, Reputation: 118
Tax Expert
  
#2

Apr 5, 2009, 07:00 PM


The statutory tax rate on dividends to non-U.S. Persons is 30%. If there is no treaty available, then 30% is due. As long as all of the tax due was withheld, then there is no U.S. Tax filing requirement.
Helpful
iffili's Avatar
iffili Posts: 3, Reputation: 1
New Member
  
#3

Apr 19, 2009, 08:45 PM
Thanks Intltax. Your information is very much appreciated.
Helpful
Not your question? Ask your question View similar questions
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Add your answer here.

Remove Text Formatting
 

Undo
Redo
  
Decrease Size
Increase Size
Bold
Italic
Underline
Align Left
Align Center
Align Right
Ordered List
Unordered List
Decrease Indent
Increase Indent
Insert Email Link
Wrap [QUOTE] tags around selected text
Wrap [CODE] tags around selected text
Wrap [HTML] tags around selected text
Wrap [PHP] tags around selected text
Wrap [YOUTUBE] tags around selected text
Notification Type:



Check out some similar questions!

Resident for tax purposes, but received 1042-S? [ 1 Answers ]

Hi, I am an F-1 student doing Phd, and I am considered a resident for tax purposes, I have received form 1042-S showing income code 19( compensation during studying and training). How do I report this income on 1040 form? Thank you.

NonResident for Tax purpose Submitted 1040-NREZ for W2 but received 1042-S after that [ 3 Answers ]

Hi, I am a Non-Resident for Tax purpose (finished 1st year as a J1 Research Scholar). I got my W2 form from my employer and submitted my tax returns on march 15th. I have taken back all my tax withholding amount due to my treaty exemption. But, recently, I got the form 1042-S for 2250$. Now Should...

Resident Alien who received two 1042-S [ 1 Answers ]

I have been in the U.S. Since August 2001 as a student (one year on a J1, subsequently on a F1 visa). I presume I am considered a resident alien for tax purposes. However, I have received the following forms: (1) W2 from university: wages (teaching/grading). Taxes were withheld. (2) 1042-S...

What is 1042-S? [ 5 Answers ]

I worked as OPT during 2004 and I filed 1040NR in 2005. I reported the amount after taking $2,000(Tax treaty) off from whatever was on W-2. Yesterday, I received 1042-S copy for recipient(Foreign Person's US Source Income Subject to Witholding) from IRS and it says, "A refund check for your...

More information sent than received [ 2 Answers ]

Whenever I log onto thr internet using a dial up connection I find that more info is being sent than received, at least twice as much. There is activity even when on a static page. I have run Norton Anti-Virus, Ad-Aware and Spybot but nothing shows up. Do I have a problem and if so what can I do...

View more Taxes questions Search