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Form 1042-T is simply a 1-page summary of Form 1042-S. This form (along with Form 1042-S) is submitted to the IRS only, not to the non-resident alien. A separate Form 1042-T must accompany each type of Form 1042-S, but multiple Forms 1042-S (corresponding to more than one payee) can be grouped under a single Form 1042-T. [3]
A copy must be provided to the employee or other payee. The relevant forms are as follows: Form W-2 series for wages (the Federal report is also used for states), due to employees by January 31. A summary is filed on Form W-3. Form 1042-S for payments to foreign persons, due to payees by March 15. A summary is filed on Form 1042.
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The Adobe LiveCycle Reader Extensions is software that users can use to enable some features, in Acrobat Reader (now Adobe Reader) 5.1 and later on a per-file basis. These are features otherwise found in the full licensed product Adobe Acrobat. For example, Adobe Reader cannot normally save filled in forms or apply digital signatures.
If you lost money, this form helps you use those losses to offset any gains or a portion of your ordinary income, reducing the taxes you owe. And if you profited from your transactions, Schedule D ...