Common Errors to Avoid

The IRS recommends reviewing your entire tax return to be sure it is accurate and complete. Even a simple mistake can cause problems with your tax return, which might lead to delays in processing your return and receiving your refund.

Want to avoid frequent trouble spots? Check these areas, which can reduce problems:

  • Use the peel-off label. You may line through and make necessary corrections right on the label. Be sure to fill in your Social Security number in the box provided on the return. It is not on the label.

  • If you do not have a peel-off label, fill in all requested information clearly, including the social security numbers.

  • Check only one filing status on the tax return and check the appropriate exemption boxes. Enter the correct Social Security numbers for each of those exemptions.

  • Use the correct Tax Table column for your filing status.

  • Double check all figures on the return. Math errors are a common mistake.

  • Sign and date the return. If filing a joint return, both spouses must sign and date the return.

  • Attach all Forms W-2 and any Forms 1099 that reflect tax withheld to the front of the return. Attach all other necessary forms and schedules, in the order of the “Attachment Sequence No.” in the upper right corner of each form.

    D

  • o you owe tax? If so, enclose a check or money order made payable to the “United States Treasury” with the return. You may choose to pay by credit card by contacting one of the two credit card service providers. If you file electronically, you may authorize the U.S. Treasury to withdraw the payment directly from your bank account.

For a complete checklist and a listing of some of the most common errors, see Tax Topic 303 or call the toll-free TeleTax number, 1-800-829-4477.


This daily Tax Tip has been provided by the IRS

Note: These tips are provided to help trigger ideas on ways to minimize your tax burden, not as a substitute for professional advice. There is no "one-size-fits-all" answer - each taxpayer's situation is different. You should contact your tax preparer to determine together how this may affect your unique situation.

You may like these other stories...

Federal judge tosses IRS lawsuitsBernie Becker of The Hill reported that a federal judge sided with the IRS on Thursday, tossing out two lawsuits filed against the tax agency over its improper scrutiny of Tea Party groups...
Amidst the dark clouds hovering over the IRS this year—ranging from the lingering Tea Party scandal to other improprieties to damaging budget cuts—at least there's a ray of sunshine in a new report from the...
SEC, Big Four Chinese affiliates make progress in talks over audit documentsMichael Rapoport of the Wall Street Journal reported that the US Securities and Exchange Commission (SEC) and the Chinese affiliates of the Big Four...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.