Drafts of the 2026 annual return and transmittal form for information returns reporting U.S.-sourced income paid to nonresidents were released April 30 by the Internal Revenue Service.
The drafts of the 2026 Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, and the 2026 Form 1042-T, Annual Summary and Transmittal of Forms 1042-S, did not contain substantive changes from the 2025 forms.
Form 1042-T is filed with paper Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, while Form 1042 aggregates payments and tax withheld on Forms 1042-S. Both 2026 forms are due ...
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