2023 Form 5074 - Allocation of Individual Income Tax to Guam or CNMI

Form 5074, "Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana Islands (CNMI)," is used by individuals who are bona fide residents of Guam or the CNMI and are required to file a U.S. federal income tax return. Bona fide residents of Guam or the CNMI may be subject to different tax rules than those in the rest of the United States.

The purpose of Form 5074 is to allocate a portion of the individual's U.S. federal income tax liability to Guam or the CNMI. This is because residents of these territories are subject to local tax laws, and the allocation ensures that the appropriate tax jurisdiction receives the tax revenue associated with the individual's income.