IRS practice unit: Adjustment for overwithholding on Form 1042
Adjustment for overwithholding on Form 1042
The IRS Large Business and International (LB&I) division publicly released a “practice unit”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.
The title of this “process unit” (as referred to by the IRS) is: Adjustments for overwithholding on Form 1042
In general, this process unit discusses adjustments for overwithholding of tax on payments of U.S.-source income to foreign persons on Forms 1042 tax returns and Forms 1042-S information returns.
Read the process unit on the IRS practice unit webpage (posting date of April 7, 2020).
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