2021.03 What’s new on 1042

The content of the Form 1042 for fiscal year 2020 remains unchanged, with only two explanatory notes added with respect to the previous year:

On page 1, a “Note” has been inserted under the “Record of Federal Tax Liability” (lines 1 to 60). It clarifies that the totals of the “Record of Federal Tax Liability” table are inserted in rows 64b to 64d, as indicated in the instructions.
On page 2, a header (“Computation of Tax Due or Overpayment”) has been inserted above lines 64a to 71, to indicate that those lines pertain to the computation of the tax due to the IRS or overpayment.