Form 1099-DIV reports dividend income paid to the recipient during the year. If the recipient had any federal income taxes withheld on their distributions, they can claim the withholding as a credit on Form 1040.
The IRS Form W-4 is a withholding certificate completed by an employee and provided to their employer. The employer uses this information to calculate the correct amount of federal withholding taxes that should be deducted from an employee's paycheck.
Online creators receive royalty income from advertisements run on their channels. This royalty income may consist of U.S. source income which is taxable when paid to nonresident creators. This article and video discusses those tax rules and the various forms.
This article and video tutorial cover the new updates to the 2022 version of the Form W-4 withholding certificate.
U.S. expats that are living and working abroad are generally still subject to federal income taxes on their gross income. Form 673 can be completed and provided to an employer to claim an exemption from federal withholding taxes for U.S. expats.
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.
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.
When U.S. real property is sold, and the seller is a nonresident, there are certain reporting requirements and federal withholding taxes which may apply.
Content creators on YouTube and Twitch are compensated for running advertisements on their content. YouTube payouts are now characterized as royalty income rather than nonemployee compensation. This article discusses those changes.
