{"id":543,"date":"2018-04-11T16:32:35","date_gmt":"2018-04-11T16:32:35","guid":{"rendered":"https:\/\/www.etax7004.com\/blog\/?p=65"},"modified":"2019-09-13T10:14:17","modified_gmt":"2019-09-13T10:14:17","slug":"business-tax-return-errors-and-corrections","status":"publish","type":"post","link":"https:\/\/www.tax2efile.com\/blog\/business-tax-return-errors-and-corrections\/","title":{"rendered":"Common Business Tax Return Errors and Corrections"},"content":{"rendered":"<p><span style=\"font-family: verdana, geneva, sans-serif;\">We always rush towards the end to submit our personal tax returns and take <\/span>time until<span style=\"font-family: verdana, geneva, sans-serif;\"> April 15<sup>th<\/sup>. In the hurry to submit the tax returns, we commit mistakes without our knowledge. Most of the software services avoid the common errors. From your <\/span>end<span style=\"font-family: verdana, geneva, sans-serif;\">, it is your responsibility to double check the form and check the list of common tax return mistakes that are stated <\/span>below <span style=\"font-family: verdana, geneva, sans-serif;\">so that you can correct the mistakes and avoid the same in future.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www.tax2efile.com\/blog\/business-tax-return-errors-and-corrections\/#Most_Common_Business_Tax_Return_Errors\" >Most Common Business Tax Return Errors<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www.tax2efile.com\/blog\/business-tax-return-errors-and-corrections\/#How_to_Solve_These_Common_Tax_Return_Errors\" >How to Solve These Common Tax Return Errors?\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\r\n<h2><span class=\"ez-toc-section\" id=\"Most_Common_Business_Tax_Return_Errors\"><\/span><span style=\"font-family: verdana, geneva, sans-serif;\">Most Common Business Tax Return Errors<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: verdana, geneva, sans-serif;\">The IRS has listed below the most common and frequent errors on the tax returns, which includes the business tax returns.<\/span><\/p>\n<ol>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missing or incorrect Social Security number (SSN) or Employer ID numbers.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Wrong tax entered depending on the taxable income and the filing status.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Computation errors to figure the taxable income, withholding and estimated tax payments and common deductions, and common credits.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Estimated and withholding tax payments are entered on the incorrect line<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Mathematical errors that <\/span>include<span style=\"font-family: verdana, geneva, sans-serif;\"> both addition and subtraction.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-family: verdana, geneva, sans-serif;\"><strong>Other Regular Tax Return Filing Errors<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missing or unreadable name or contact address.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Checking no filing status or checking more than one filing status.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missing or incorrect income, <\/span>credits<span style=\"font-family: verdana, geneva, sans-serif;\">, and deductions, or not entering the correct information on appropriate line.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">\u00a0Lacking to put brackets to specify the negative amounts.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Failing to calculate the tax properly from the tax tables.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Failing to provide the date and sign the return, when it was a joint return, missing the sign of the spouse and the date.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missed to attach the 1099 MISC forms that you received for the <\/span>income <span style=\"font-family: verdana, geneva, sans-serif;\">if the income tax was held or not.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Failing to provide all necessary schedules including Schedule C in the sequence number order.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missing to send the return in order to correct the location of the IRS.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Forgetting or disregarding to paste the postage stamp on the envelope.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missed to enclose the check payable to the \u201cUnited States Treasury\u201d and failing to include the name, contact address, <\/span>taxpayer<span style=\"font-family: verdana, geneva, sans-serif;\"> ID, tax <\/span>form,<span style=\"font-family: verdana, geneva, sans-serif;\"> contact number and tax year on the payment.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif;\">Missing or forgetting to add the financial institution account and routing numbers for the refund direct deposit.<\/span><strong style=\"font-family: verdana, geneva, sans-serif;\">\u00a0<\/strong><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"How_to_Solve_These_Common_Tax_Return_Errors\"><\/span><span style=\"font-family: verdana, geneva, sans-serif;\">How to Solve These Common Tax Return Errors?\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: verdana, geneva, sans-serif;\">When the mistakes are simple such as calculation error, you may wait for the IRS to correct them. But when the mistakes are considerable, then you may need to file the amended tax return. The form for using this return is based on the business type.<\/span><br \/>\n<span style=\"font-family: verdana, geneva, sans-serif;\">You have 3 years of time from the return filed date to file the amended tax return. But when the mistake is related to the owed tax amount to the IRS, then you need to file and pay the tax amount as soon as possible. When you have further queries about the listed errors or other new errors, you may directly contact the IRS and explain your current problem and situation. Above all the discussed points, you need to be more cautious while filing the forms with the IRS in order to avoid the bad outcomes.<\/span><br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We always rush towards the end to submit our personal tax returns and take time until April 15th. In the hurry to submit the tax returns, we commit mistakes without our knowledge. Most of the software services avoid the common errors. From your end, it is your responsibility to double check the form and check [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108],"tags":[],"class_list":["post-543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-file-7004"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts\/543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/comments?post=543"}],"version-history":[{"count":0,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/posts\/543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/media\/817"}],"wp:attachment":[{"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/media?parent=543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/categories?post=543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tax2efile.com\/blog\/wp-json\/wp\/v2\/tags?post=543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}