EPY: 1042 processing - Add Industrial Royalties Income Codes 10 and 50 (Doc ID 660909.1)

Last updated on MARCH 08, 2017

Applies to:

PeopleSoft Enterprise HCM Payroll for North America - Version 9 and later
Information in this document applies to any platform.
SPECIFIC TO:   Enterprise, Payroll for North America


Symptoms

   We would like additional Industrial Royalties codes added to the supported list, specifically 10 and 50. See 1043-s instructions provided by the IRS. The IRS does make a distinction between Industrial Royalties and Other Royalties and we do pay both. Why aren't all the income codes delivered?

We are paying Industrial Royalties under the treaty with Poland (TIAS 8486) that exceed the maximum eligible earnings field limit of $9,999,999.99 and 1042 withholding and federal withholding tax is calculating. There is no limit to the eligible earnings and only 1042 taxes should be withheld. TREATY_EARN_TBL.MAX_EARNS_ELIG field length is 7.2.

Customer was using a custom Industrial Royalties Code 10 that is not delivered.

Cause

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