I found a mistake in an old return — how do I fix it without waiting for an audit?
If I discover an old return had an error in the figures, should I wait for the authority to find it, or fix it myself?
It's better to fix it yourself immediately through Voluntary Disclosure — a formal mechanism through which you submit a correction to the error before the authority discovers it during an audit. The voluntary disclosure penalty is calculated at a monthly rate accruing from the original filing date, and it's generally far lower than the penalty imposed if the authority discovers the error first.
Delaying the correction increases the cost with every month that passes. At RASEEKH, the moment we find an error in an old file, we start the voluntary disclosure process immediately rather than waiting.