What is Form 1042?
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Form 1042, also called "Annual Withholding Tax Return for U.S. Source Income of Foreign Persons," is used to report tax withheld on certain foreign persons' income, including non-resident aliens, foreign corporations, and other foreign entities. The purpose of Form 1042 is to report withholding taxes on certain types of income that are subject to withholding under U.S. tax laws.