When tax time comes around many souls find themselves rushing to file before April 15th. If you’ve waited until the last minute to file chances are you’re not in the best frame of mind. Take a deep breath. Even if you have little time to file and feel the IRS breathing down your neck you’re better off taking your time and re-reading your return for errors instead of rushing the job.
Remember that unsigned returns are in essence worthless. You need to sign your return to validate it so avoid this common filing mistake by putting your John Hancock on the form before you mail it in. Ditto for other frequent, silly mistakes that cause heartache.
Keep these 4 common tax mistakes in mind before you file to avoid any delays in getting potential refunds.
Not Signing Your Tax Return
Although this is both the most simple and easy part of completing your tax return many people forget to sign the form. Before you send your form in online or offline make sure to double check it. The good thing about online filing is that you can’t physically submit the return without a typed signature. Make sure you type in your name and of course add your spouse’s name if you’re filing a joint return. This step takes just a little bit of mindfulness and it’ll save you so many headaches in the long run. Avoid this mistake. Sign the return.
Inaccurate Filing Status
Although you likely are aware if you’re married or single you may run into problems if you’re perplexed about whether to file single or head of household status. This situation usually arises if you’re divorced and have children. Use tax preparation software or visit the IRS website for clarification.
Wrong SSN
Although most people know their social security numbers by heart a few folks mistakenly enter the wrong SSN on their tax returns. Some other people enter the wrong number for spouses or children. Before filing make sure you have the right number. Check social security cards or go back to old filings if you’re not 100% certain that you’re filing the proper number. You don’t want to have your return mailed back to you over an errant digit.
Wrong Name
A little moment of mindlessness can be a long term thorn in your side. Some tax payers type in the wrong name on their return. This mistake is usually rooted in a one letter typo or similar mishap. The IRS backs up the claim that this is in fact one of the most common blunders on tax returns.
If you’ve recently changed your name after getting married or for some other reason make sure the name you submit matches the name on file in the IRS system. Don’t file until you check with the IRS to make sure you have a match. Change your name with all relevant organizations, including the Social Security Administration, to avoid this all too common problem.
If you need tax advice in the Beverley Hills area please visit http://www.wallaceapc.com/beverly-hills.