The 1042-S Tax Rate (ITAX) table provides valid tax rates from the Internal Revenue Service (IRS) that is required for Form 1042-S reporting. The Tax Rate values specified on this table are used on 1042-S tables and update certain boxes on the 1042-S Form based on the type of recipient. Each tax rate is identified as Ch. 3 and/or Ch. 4 income.
All valid tax rates from the IRS required for Form 1042-S reporting are provided for the ITAX table. Changes by the IRS will be provided to you during the annual tax release updates.