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...

The law makes it difficult for itemizers to deduct medical expenses. To reap any write-off, you must pay bills that aren't covered by insurance, reimbursed by employers or otherwise satisfied by, for example, a company-...
Drug patents held overseas can pare makers’ tax billsAs the Obama administration tries to stop companies from avoiding taxes by moving their headquarters overseas, the makers of some of the world’s most lucrative...
Starting in October, the IRS will send warning letters to tax return preparers who appear not to be complying with Earned Income Tax Credit (EITC) due diligence requirements.Section 6695(g) of the Internal Revenue Code...

Already a member? log in here.

Upcoming CPE Webinars

Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.