(E&G) Reviewing and Adjusting 1042 Tax Balances

Page Name	Definition Name	Usage
1042 Tax Balances Page	BALANCES_TAX3	Review an employee's 1042 tax balances.
1042 Tax Balance Adjustments Page	BALANCES_TAX4	Review online adjustments to an employee's 1042 tax balances.
Adjust 1042 Tax Balance 1 Page	ADJ_TAX_BAL3	Identify the country, income code, tax rate, state, and reason for adjustment to an employee's 1042 tax balances.
Adjust 1042 Tax Balances 2 Page	ADJ_TAX_BAL4	Change 1042 tax balances.

Use the Adjust 1042 Tax Balances 2 page (ADJ_TAX_BAL4) to change 1042 NRA (non-resident alien) tax balances.

Navigation:

Payroll for North America > Periodic Payroll Events USA > Balance Adjustments > 1042 Taxes > Adjust 1042 Tax Balance 2

Note: To access this page you must first enter identifying criteria on the Adjust 1042 Tax Balance 1 page, and save it.

Field or Control	Description
Current Month-to-Date or Adjustment to Month-to-Date	Enter the new balance in the Current Month-to-Date field as appropriate in any or all of theTaxes, Taxable Gross, and Withholding Allowances group boxes. The system calculates theAdjustment to Month-to-Date values in each group box based on the current month-to-date balance that you enter. Alternatively, you can enter an adjustment amount in the Adjustment to Month-to-Date field in the appropriate group boxes, in which case the system calculates the new Current Month-to-Date value for that group box. Balances are updated in the payroll calculation and confirmation processes that you run during the year. Note: Balance adjustments are applied individually. If you make an adjustment to a 1042 balance on the Adjust 1042 Balances page, you will also likely want to apply the same adjustment to the summarized 1042 totals on the Adjust 1042 Tax Balance 2 page.
Exemption Code	Specify the exemption code that applies to this employee. When the system creates the employee’s 1042 Balance record during payroll calculation and confirmation processes, it enters a default exemption code of Tax Treaty. Before you print the paper forms or generate the electronic file, verify or change the employee’s exemption code on the tax 1042 balance record.
Suspend Adjustment	Select this check box to make key fields available for re-entry after saving.

Field or Control

Description

Current Month-to-Date or Adjustment to Month-to-Date

Enter the new balance in the Current Month-to-Date field as appropriate in any or all of theTaxes, Taxable Gross, and Withholding Allowances group boxes. The system calculates theAdjustment to Month-to-Date values in each group box based on the current month-to-date balance that you enter.

Alternatively, you can enter an adjustment amount in the Adjustment to Month-to-Date field in the appropriate group boxes, in which case the system calculates the new Current Month-to-Date value for that group box.

Balances are updated in the payroll calculation and confirmation processes that you run during the year.

Note: Balance adjustments are applied individually. If you make an adjustment to a 1042 balance on the Adjust 1042 Balances page, you will also likely want to apply the same adjustment to the summarized 1042 totals on the Adjust 1042 Tax Balance 2 page.

Exemption Code

Specify the exemption code that applies to this employee. When the system creates the employee’s 1042 Balance record during payroll calculation and confirmation processes, it enters a default exemption code of Tax Treaty. Before you print the paper forms or generate the electronic file, verify or change the employee’s exemption code on the tax 1042 balance record.

Suspend Adjustment

Select this check box to make key fields available for re-entry after saving.

(E&G) Reviewing and Adjusting 1042 Tax Balances

Pages Used to Adjust 1042 Tax Balances

Adjust 1042 Tax Balances 2 Page