This is a Manually Corrected Tax example using a current year Form 1120-SF (Entity part and Tax and Payments section of Page 1) and the error register on the loop. The tax examiner puts an X to the left of the incorrect tax on Line 15. The tax examiner indicates the correct tax (7642.80) to the left of the X. When the return and register loop back for morel corrections, the tax examiner indicates Taxpayer Notice Code (TPNC) 05 in the upper left corner of Page 1 of the return.The Form 1120-SF, U.S. Income Tax Return for Settlement Funds (under Section 468B) fields are shown below:Form 1120-SF: For calendar year 2020Form 1120-SF: Name of fund: Scarlet Insurance CompanyForm 1120-SF: Number, street, and room or suite: 584 Magenta CircleForm 1120-SF: City or town, state and ZIP code: Salt Lake City, UT 84100Form 1120-SF: Line 14 shows 20,656.22Form 1120-SF: Line 15 to the left of the amount shows 7,642.80 XForm 1120-SF: Line 15, Total tax, shows 7,520.00Form 1120-SF: Line 16b, Current year estimated tax payments, shows 7,000.00Form 1120-SF: Line 16d, Current year estimated tax payments, shows 7,000.00Form 1120-SF: Line 16f, Total credits and payments, shows 7,000.00Form 1120-SF: Line 18, Tax due, shows 520.00Sign Here: Martin WhiteDate: 02/15/21Title: CEOError Register: Section 01 shows Fields A through I. Fields are blank except Fields B (Name Control), C (EIN), D (Tax Period) and E (Received Date). When the return and register loop back for corrections, the tax examiner indicates Action Code 1 followed by a hyphen and the Taxpayer Notice Code (TPNC) 05 to the left of Section 01. Error register Section 01 fields are shown below:1-05 (TPNC)01 ABSCARC000612800D202012+E20210415+F + G + H + IError Register: Section 07 shows Fields A through Z. Fields are blank except Fields A (Total Tax), B (Estimated Tax Credit), I (Balance Due/Overpayment) and Z (Manually Corrected Total Tax). The correct tax of 764280 (7,642.80) is indicated in Field 07-A and Field 07-Z. Error register Section 07 fields are shown below:07 A 752000+ - The correct tax of 764280 is shown under Field 07-A (Total Tax) and shown Field 07-Z (Manually Corrected Tax)B 700000C + D + E + F +H +I 52000+J + K + M +N + W + X + Y +Z 764280+