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    iffili's Avatar
    iffili Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Apr 4, 2009, 10:22 PM
    Received 1042-S - Need some information Thanks
    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 withheld 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.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    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.
    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.
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