The U.S. IRS has released an international practice unit on Adjustments for Overwithholding on Form 1042. The practice unit discusses adjustments for overwithholding of tax done on payments of U.S. source income to foreign persons on Forms 1042 tax returns and Forms 1042-S information returns. Overwithholding can result from an error or may have been correct based on the documentation available at the time the tax was withheld. Withholding Agents (WAs) may make limited adjustments or claim a…