Twitch and YouTube Form 1042-S
Twitch streamers and YouTube channel creators that are non-U.S. persons may receive a Form 1042-S at the end of each year. This information reports your U.S. source royalty income and federal withholding taxes.
What is the IRS Form 1042-S?
The IRS Form 1042-S is generally filed when U.S. source income is paid to a nonresident for federal tax purposes. The form is also filed to report the amount of federal income taxes withheld at source.
Does a Nonresident Receive Form 1099-NEC from a US Company?
Form 1099-NEC is filed by U.S. entities when they pay nonemployee compensation to an individual or business. Nonresidents that work for U.S. companies generally receive a Form 1042-S instead of Form 1099-NEC.
Non-US Persons Pay Tax on US Source Income
Nonresidents of the U.S. are generally not subject to any U.S. federal income taxes unless they have U.S. source income. U.S. source FDAP income paid to nonresidents is subject to withholding taxes at source.