3 Mistakes You Need to Avoid When Filing Taxes Online
Filing your taxes online is generally easier and more efficient than ever. It is a win win for the IRS and for you. The IRS receives your tax return earlier and you can file from the comfort of your own home, without that dreaded trip to the post office. You receive communication from the IRS that your return has been received, your transmission is more secure and you receive your refund faster.
So, if you have not filed online before, you may be planning to take the plunge this year. As you gather all of your forms and documentation, keep these three very common mistakes in mind. This will save you additional time and effort and decrease your audit risk as well.
1. Forgetting to include all of your forms:
One of the biggest and most serious mistakes you can make when you file your taxes online is not claiming all of your income. By January 31st each year, you will have received all of your W-2s and 1099s. It is your responsibility to check to be sure that you received all of the forms and that they are entered appropriately in your return. Keep in mind that the IRS receives all of these forms as well and if they have forms that you have not included, it may look like you are purposefully withholding income information. Of course, in most cases, this is simply an oversight. But it is always best to be proactive before you submit and make sure that you have all relevant information to file.
2. Making arithmetic errors:
While the simple arithmetic may be easy, flipping through pages, carrying numbers from one page to the next, it is very easy to make an easy math mistake. Before you submit your return online, double and triple check all of your math. Keep in mind that this is the first thing the IRS will do when they receive your return and your refund can be delayed or you can be flagged for an audit if there are arithmetic errors.
3. Including incorrect personal information:
Whether you provide the wrong street address by mistake or mix up two of the numbers in your social security number, providing the IRS with incorrect personal information is another very common mistake. This information (especially social security numbers) are checked in an IRS database and can significantly delay the processing of your return. Also, you MUST sign and date your return, even if you are filing electronically. Forgetting this important step will again cost you time and the IRS will not consider your return “filed” until it has been resolved.
One simple way to avoid these filing mistakes and save yourself time and headaches is to consider partnering with a full service tax firm to complete your taxes. Success Tax Relief specializes in all types of tax issues and helps thousands of people each year with routine tax preparation. It is often very helpful to have an extra set of eyes review your return for mistakes and suggest ways to save additional money. We can take the stress out of this process and offer affordable rates to customers all over the United States. Do not wait for the IRS to come to you – call Success Tax Relief today at 1-877-958-6638.