I Have Received a 1042-S – What Should I Do Now?
📬 Received a 1042-S form in the U.S.? Here’s what to do next!
If you’re living or working in the U.S. and have just received a Form 1042-S, don’t panic — you’re not alone.
Many international students, exchange visitors, and nonresidents get this form each tax season.
In this guide, we’ll explain what the 1042-S means, why you received it, and the steps you should take to stay compliant and claim any tax refund you might be due.
🧾 What Is Form 1042-S?
Form 1042-S is an IRS tax document used to report income paid to nonresidents in the U.S.
This form is typically issued by:
🏫 Universities
🏢 Employers
🏦 Financial institutions
It reports income that’s either taxable or exempt under a tax treaty between your home country and the U.S.
💡 Why Did You Receive a 1042-S?
You likely received this form because you earned income such as:
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🎓 Scholarships or fellowships (if taxable)
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💰 Tax treaty-exempt income
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🏆 Awards, prizes, or honoraria
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💼 Payments for independent personal services
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📈 Interest, dividends, or royalties
If you earned any of these types of income, your U.S. payer is legally required to issue you a 1042-S.
📅 When Will You Receive It?
Form 1042-S is typically issued by March 15 each year for income earned in the previous year.
If you haven’t received yours by then, contact your university’s payroll or HR department.
🔍 1042-S vs. 1099 — What’s the Difference?
| Form | Who It’s For | Type of Income | Used By |
|---|---|---|---|
| 1042-S | Nonresidents | Scholarship, prizes, interest, royalties | Universities, U.S. payers |
| 1099 | U.S. residents | Freelance or rental income | U.S. businesses |
🧮 30% Tax Was Withheld by Mistake?
If you submitted a W-8BEN to claim a tax treaty benefit, but 30% tax was still withheld — don’t worry.
You can claim a refund by filing Form 1040-NR (the nonresident tax return) and including your 1042-S.
🪪 Students Receiving a 1042-S
If you’re a student receiving a taxable scholarship or fellowship, you should receive your Form 1042-S by March 15, 2025, for any payments made in 2024.
📝 Do You Need to Report Your 1042-S Income?
Yes. You must include the income shown on your 1042-S when filing your U.S. tax return, even if no tax was withheld.
Failing to do so can result in IRS penalties or even affect future visa applications.
💻 How to Report Form 1042-S
To report it:
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Include Form 1042-S when filing your Form 1040-NR.
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Check that all the details — your name, address, and income amounts — are correct.
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File your return before April 15, 2025.
If any details on your 1042-S are incorrect, contact your payroll office to request a corrected version.
⏱️ How Long Does It Take to Get a Refund?
If you are owed a refund, IRS processing times can vary from a few weeks to a few months.
Be sure to file early to get your refund sooner!
🧮 Who Can Help You File Correctly?
J1 Summer Tax Back can help you prepare and file your nonresident tax return with ease.
✅ We ensure your 1042-S income is correctly reported
✅ You get every refund you’re entitled to
✅ Stay 100% compliant with the IRS
💼 Get started with your nonresident tax return today — quickly, securely, and stress-free!