Any company can make mistakes when filling out a tax return, and that includes mold builders. However, mistakes are not always to the detriment of the company. Sometimes they can be beneficial. There are numerous reasons why a mold builder may need to correct a tax return or its methods of computing tax liabilities, and correcting these errors may allow the mold builder to request refunds or credits. However, these corrections also may also be costly and require the mold builder to pay additional tax, and perhaps interest and penalties as well (see sidebar on page 57).
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