What is Form 1042-S and who is responsible for completing this form?

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Form 1042-S is a tax form used by US-based companies to report income paid to contractors not based in the US. We generate this form for each US-based company (not the contractor) to enable the company file their taxes. Form 1042-S is generated based on the following criteria: 
  • Company is based in the US
  • Contractor not based in the US
  • Contractor was paid more than 0 USD in the relevant tax year via the Remote platform

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