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Directory Results for Revenue Procedure 2001-40 - Specifications for filing 1042-S. This procedure provides specifications for filing Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding, magnetically or electronically. Rev. Proc. 98-44 superseded. to Revenue Procedure 2001-42 - Insurance companies; modified endowment contracts; uni closing agreement.. This revenue procedure provides procedures by which an issuer may remedy an inadvertent non-egregious failure to comply with the