Worried about making a mistake on your tax return? The IRS has identified the 9 most common tax filing errors. Here they are - as well as how.
One innocent slip-up on your federal income tax return could cost you time and before you file ; read our article Avoid The Social Security Tax Trap.) 4. the correct financial institution account and routing transit numbers.
Finance taxes common filing mistakes avoid aspx - - goingIf you're a student or are paying for a child to attend college, you could benefit from the American Opportunity Tax Credit or the Lifetime Learning Credit. Make sure you are using the correct column for the IRS tax table based on your filing status. When IRS examiners find a discrepancy, they'll definitely let you know and, in many cases, will correct your mistake and refigure your taxes for you. And what if you're still married, but you and your spouse are thinking about filing separate tax returns? Incorrect Identification Numbers If you are claiming a dependent or child-care tax credit, double check to make sure you have the right identification number s for the care provider s.
Biggest Mistakes Made Filing Taxes
Finance taxes common filing mistakes avoid aspx -- flying cheap
She also blogs at Don't Mess With Taxes. The built-in calculators do the work for you, adding, subtracting and inserting numbers on additional forms as needed. Just like forgetting to sign a check or a contract, it means your return isn't valid. How to avoid the error : Double — or triple — check any personal or bank account information before you submit your completed tax return. Finally, don't forget to take a deduction for the charitable contributions you make throughout the year. Master these fundamentals and you'll be doing your own taxes with minimal stress. Any of these mistakes could delay the processing of your return -- and the issuance of your refund check.