6. Filing the wrong tax forms
The IRS now provides one income tax form for all filers to complete regardless of their tax situation. That’s called Form 1040. Forms 1040A and 1040EZ were eliminated starting with tax year 2018.
The revision of Form 1040 also brought with it six new schedules. So, if you own a business and need to report the profits and losses, you still need to complete Schedule C. According to the IRS your activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and if you’re involved in the activity with continuity and regularity.
