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I am a F-1 student currently on my OPT period after my graduation as a full time employee. The company I worked for provided W-2 for tax filing, however, the withholding agency the company use is not able to provide 1042-S form for my tax return. What should I do ? Do I need the 1042-S and can I ask the company to issue 1042-S not through the withholding agency ? This is new to the company too and they are uncertain about the process.
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If you are an F-1 student on Optional Practical Training (OPT) and your company is not providing a Form 1042-S, which is used to report income paid to foreign persons, there are a few steps you can take to address the issue:
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As an F-1 OPT (Optional Practical Training) student, you may encounter situations where your employer does not provide a Form 1042-S. This form is typically issued to report income subject to tax treaty benefits or other nonresident alien-related payments. If your employer is not issuing a 1042-S, it may indicate that your income is being treated as wages for employment purposes and reported on Form W-2 instead. In this case, taxes such as Social Security and Medicare should generally not be withheld for F-1 students under IRS guidelines, as long as you maintain your nonresident alien status . It is crucial to clarify with your employer how your income is being reported and ensure it aligns with IRS rules
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If you're an OPT F-1 student and your company refuses to provide a 1042-S form, it can be frustrating. The 1042-S is crucial for reporting certain types of income, especially if taxes were withheld. Without it, filing your tax return becomes complicated. You should first clarify with your employer whether your income qualifies for this form. If they insist it’s not needed, consult a tax professional. For more guidance on academic and professional documents, check out https://onlineassignmentexpert.net/h...esearch-paper/ always ensure compliance with IRS regulations to avoid issues.Comment
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