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Common Mistakes People Make When Filling Out IRS Forms

Common Mistakes People Make When Filling Out IRS Forms

By on Aug 18, 2015 in Tax Tips | 0 comments

Common Mistakes People Make When Filling Out IRS FormsCommon Mistakes People Make When Filling Out IRS Forms

Small errors are extremely common on annual tax returns.  This can end up costing you money and often results in a delay in processing your return, which often translates into a delay in receiving a refund.  Here are some tips for avoiding the most common mistakes people make when filling out tax returns and other IRS forms: 

1. Arithmetic Mistakes.  This is the most common error each year on tax returns.  Common math mistakes or transferring numbers incorrectly from a form to your return will usually result in a correction notice from the IRS.
These arithmetic errors can also reduce your refund or indicate that you owe more than you actually do.  The best remedy for this is simple — just like in school — double check your work!  Be sure to check that you have not transposed any numbers that you entered.  This can result in a large discrepancy.

2. Personal Identification Information.  Another thing that the IRS looks closely at is your social security number.  With identity theft on the rise, the government is looking to be sure that your social security number matches the name associated with it.  When your name does not match your social security number, the IRS will kick it out, also resulting in a delay.

3. Bank Account Information.  The IRS gives you many options for how to deposit your refund.  You can deposit this into one account or even split it into several accounts.  But, make sure that the account information that you include is correct so your refund is deposited into your account (not someone else’s) as soon as possible.

4. Filing Status.  Another area where you are vulnerable to a mistake is with your filing status.  Make sure you understand the details of the five options and you choose the one that is best suited for your situation.  Making an error here can result in a smaller refund or owing too much.

5. Your Signature is Necessary.  It may seem odd, but even if you file your taxes electronically, you are still required to sign your return.  You do this by inputting your PIN number and/or a specific amount (gross income) from last year’s return.  If you file a paper return, you (and your spouse, if filing jointly) must sign and date your return or the IRS will flag it.

6. Deduction Errors.  Everyone wants to save on their taxes and the charitable deductions you make throughout the year are a great place to look for these savings.  Make sure that you follow the guidelines for deductions, including making sure that you give to an organization that has tax-exempt status with the IRS.  If you are donating household item or clothing, you should be sure that you claim these at fair market value.


One strategy for making sure that your tax return is error-free is seeking the help of a tax firm that can review your return and background documentation for mistakes.  Success Tax Relief understands that completing tax forms for your annual tax return is stressful and we are happy to help review this information so that you can feel confident that it is correct when you submit! Call our team at 1-877-825-1179 or contact us here today!


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