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Most Common Last Minute Filing Errors And How To Avoid Them

common tax filling mistake

Tax season is finally approaching and the filing deadline will approach faster that you realize it. With few days left to file tax returns, taxpayers often commit last minute errors which can invite unnecessary delay and troubles. As a taxpayer, one must double check returns to make sure everything is correct and accurate. In first place, taxpayers should not rush and request a 1040 tax extension. Or else they should know what last minute filing errors can put them in trouble.

Missing Forms

Most of the taxpayers forget to include all the necessary schedules and forms. Before filling, be sure that your paperwork is complete. For instructions and guidelines on most of the tax forms visit www.irs.gov. You can find details on how forms work and what necessary documents are required. The taxpayers filing for a payment agreement have to file Form 9465. Also, maintain a copy of forms filed for personal records, whether you’re filing tax return electronically or via mail.

Mathematical errors

Obviously you’re in a rush but take out some time to cross check mathematical errors, if any. This could save you from other troubles in the future. Taxpayers most common mistakes are miscalculation on how much they owe, what their refund amount should be and how much should be deducted. One way to avoid mathematical errors is to file electronically with the help of tax calculation software which corrects such errors instantly.

Forgetting to include other details

Taxpayers usually forget to include money or check order with the tax return file. In case you’ve a tax liability, you can possibly forget to mention Social Security number, tax year and tax form number. All these information are vital for processing the payment and you won’t have to pay added interest or late fees.

Unsigned Return

The team of anti-fraud experts asserts that taxpayers often sign a return before the preparer completes it, which is a big mistake. And forgetting to sign the return at all could reject the form. Married couples often forget to sign jointly. In order to avoid such errors it’s best to file electronically.

Misspelled name

Another end moment mess up could be misspelled names. Not filling the same name as it appears on taxpayer’s Social Security card will result in returning of tax file. Fill the names correctly with proper middle name or initials, if any. Your Social Security card should reflect the recent changes in name, if any. Likewise, never forget to match the Social Security card number.

Taxpayers must understand, that these small errors are big enough to create headache in the long run. So, avoid these common last minute filing errors and be extra cautious while filing a tax return.

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