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The Facts: At a company’s 2011 tennis tournament, a player (athlete) was paid on the spot, but the 30% Federal Tax was not withheld.  The 2011 1042-S provided to the player (athlete) was coded as: Box 1 – 20, Box 2 – 5,000, Box 5 – 0%, Box 6 – 00, and Box 7 - $0.00, with all the other boxes correctly filled in...

 

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