IRS: Winter 2015 Statistics of Income Bulletin Released
Among other things, we learn that “U.S.-source income paid to foreign persons, as reported on Form 1042-S, totaled $568.5 billion for Calendar Year 2011, up almost 2 percent from 2010. Withholding taxes on this income fell by about 12 percent to almost $9 billion in 2011. Almost 90 percent of all U.S.-source income paid to foreign persons was exempt from withholding tax. The residual U.S.-source income subject to tax was withheld at an average rate of 15 percent.”
See all the articles of the Winter 2015 Statistics of Income Bulletin here.
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