A business annual report is a routine state compliance filing, not a financial report or tax return. Most LLCs and corporations must file one with their state, typically once a year, to keep their public record current and maintain good standing. Still, requirements vary by state and entity type. - If you own an LLC, corporation, or nonprofit: You may need to file an annual report with the state where your business is registered.  - If you run a tax-exempt nonprofit: You may need to file IRS Form 990 or Form 990-PF with the federal government, plus any state annual report filing. - Note: An investor or shareholder annual report is a separate document.

Taxpayers who discover an error after filing a federal tax return may need to file an amended return. There are some instances where an amended return isn’t required such as when the IRS corrects errors during processing or requests missing forms or schedules separately. Reasons to file an amended returnIf there are changes to key items on the original return, including: - Filing status - Income - Deductions - Credits - Dependents - Tax liability Taxpayers can use the "Should I File an amended return?" tool within the IRS Interactive Tax Assistant to help decide if they should file an amended return to correct an error or make other changes if they already filed.

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