ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Federal tax return mistakes can be avoided by
A
using the proper tax forms, tax tables, and correct filing status.
B
signing the completed return.
C
filing online or mailing your return before the deadline.
D
all of the above.
Explanation: 

Detailed explanation-1: -If you notice a mistake in your submitted ITR, and it has not processed by CPC, you can submit a revised return. You can use the rectification request service on the e-Filing portal only against an order/notice from CPC.

Detailed explanation-2: -No documents are to be attached along with the return of income. The taxpayer should identify the correct return form applicable in his case. Carefully provide all the information in the return form. Confirm the calculation of total income, deductions (if any), interest (if any), tax liability/refund, etc.

Detailed explanation-3: -Math errors. Choosing the right filing status for you. Missing out on tax deductions. Forgetting important paperwork. Entering the wrong routing or account number. Paper filing blunders. 01-Dec-2022

Detailed explanation-4: -Taxpayer Advocate Service (TAS)-This free service helps you resolve tax problems. Low-Income Taxpayer Clinics (LITCs)-Contact a local LITC for free or low-cost services. Office of Appeals-This independent organization within the IRS helps resolve your tax disputes without going to tax court. More items •11-Jan-2023

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