Taxpayers who discover they made a mistake on their tax returns after filing can file an amended tax return to correct it. This includes changing the filing status and dependents, or correcting income, credits or deductions. The instructions for Form 1040X, Amended U.S. Individual Income Tax Return, list more reasons to amend a return. Taxpayers should not file an amended return to fix math errors, because the IRS will correct those.
Here are some tips on how a taxpayer amends a tax return. Taxpayers should:
What is a “Typical Situation” people are in when they realize they need your help?
Your customer is overwhelmed with manual paper processes. They are a print heavy environment and have no idea what the costs of that are or how they can cut down on printing.
What is something someone might say that would lead me to think of you?
What they Specifically do:
The representative can assess your current environment. Delve specifically into your print and process needs and devise a plan to help you streamline your work processes saving your company time and money.
How they do it:
They ask questions to understand your current situation, what you would like to change about it and what your businesses goals are for the future. By understanding this they can devise a long range plan on how to document and streamline your processes to make your business more efficient.
Matching Ideas with Resources:
IRS Video Portal is One-Stop Shop Featuring Tax Information for Small Businesses
For small business owners who have tax-related questions, the IRS Video Portal offers a series of videos and webinars that can help them find answers.
Business owners can access the portal to find information on topics such as:
Starting a Business
This playlist features webinars that address several topics, including:
•Tips for new businesses
•Business taxes for the self-employed
•Who needs to file Schedule C and how to do it
•Things to ask an accountant
•Avoiding the biggest tax mistakes
These videos have information about:
•Business income and expenses
•Tip reporting requirements, including the difference between tips and service charges
•Resources on IRS.gov
Videos in this playlist cover several topics, including:
•General employment tax issues
•Employing family members
•Proper worker classification
Filing and Paying Taxes
This playlist features videos on several topics, such as:
•Child and daycare provider tax compliance
•Electronic signature options
Small Business Taxes
This virtual workshop includes nine lessons on a wide range of business topics, from paying taxes electronically to setting up retirement plans.
The IRS also posts videos on the portal for individuals, tax professionals, governments, and charities and non-profits. There’s also a playlist with videos in Spanish.
In true blog fashion, the last parts are at the top of the page. Scroll all the way down and work your way back up to read them in order.
Tom is the Business Development Manager for GLM. If you are interested in learning more about GLM's services, contact him: