Common Mistakes People Make When Filing Their Taxes

Author: Tax Plus Etc | | Categories: Accounting Firm , Tax Accountant , Tax Return

Blog by Tax Plus Etc

Tax preparation and filing of taxes are a once-in-a-year activity requiring all taxpayers to adhere to. However, like most people, you may dislike doing your taxes and probably would leave it to the last minute. In the bid to meet the deadline, you may incorrectly enter data while filing your taxes that could lead to many troubles with IRS agents. To help you avoid some basic errors and file your return correctly and timely to ensure mental peace, Tax Plus Etc, has put together a list of the most common mistakes people make when filing their taxes.

1. Missing or inaccurate social security numbers
While doing your taxes, there are chances of missing and entering the wrong information. One of the common errors we have come across is with incorrect social security numbers. So you need to be sure to enter each SSN on a tax return exactly as printed on the Social Security card.

2. Incorrect bank account numbers
The IRS strongly urges all taxpayers who have a refund due, to choose direct deposit. It’s easy and convenient. Be careful to use the right routing and account numbers on the tax return. The fastest and safest way to get a refund is to combine an e-file with a direct deposit.

3. Filing status errors
Some people claim the wrong filing status, such as ‘Head of Household’ instead of ‘Single.’ The Interactive Tax Assistant can help taxpayers choose the correct status. E-file software also helps prevent mistakes.

4. Filing with an expired government-issued ID
A tax return filed with an expired driver’s license or state identification card will be processed and treated as timely filed. However, we insist that you get the appropriate identification.

5. Misspelled Names
A large number of tax returns are refused or rejected due to incorrect personal details. Make sure to spell all names listed on a tax return exactly as listed on that individual’s Social Security card.

6. Forms Not Signed
An unsigned tax return is like an unsigned check, it’s not valid. Both spouses must sign a joint return. As taxpayers, you can avoid this error by filing your return electronically. Sign an e-filed tax return digitally before sending it to the IRS.

To avoid these and other mistakes while filing your taxes, reach out to the experts at Tax Plus Etc. As a leading tax accounting and bookkeeping firm in Dallas, Texas, we help individuals and small to medium-size businesses manage their accounts and taxes at an affordable price. We offer a full range of tax accounting and bookkeeping services, payroll, tax resolution, and consulting for clients across Dallas, Tarrant County, Denton County, and the surrounding areas.

For a complete list of our services, please click here. If you have any questions about filing tax returns, we’d love to hear from you. Please contact us here.