Seven Most Common Tax Mistakes

Mistakes on tax returns mean they take longer to process, which in turn, may cause your refund to arrive later. The IRS cautions against these seven common errors so your refund is timely.

1. Incorrect or missing Social Security Numbers - When entering SSNs for anyone listed on your tax return, be sure to enter them exactly as they appear on the Social Security cards.
2. Incorrect or misspelling of dependent’s last name - When entering a dependent’s last name on your tax return, ensure they are entered exactly as they appear on their Social Security card.
3. Filing status errors - Make sure you choose the correct filing status for your situation. There are five filing statuses: Single; Married Filing Jointly; Married Filing Separately; Head of Household; and Qualifying Widow(er) With Dependent Child. See Publication 501, Exemptions, Standard Deduction, and Filing Information to determine the filing status that best fits your needs.
4. Math errors - When preparing paper returns, review all math for accuracy, or file electronically; the software does the math for you!
5. Computation errors - Take your time. Many taxpayers make mistakes when figuring their taxable income, withholding and estimated tax payments, Earned Income Tax Credit, Standard Deduction for age 65 or over or blind, the taxable amount of Social Security benefits, and the Child and Dependent Care Credit.
6. Incorrect bank account numbers for Direct Deposit - If you are due a refund and requested direct deposit, review the routing and account numbers for your financial institution.
7. Forgetting to sign and date the return - An unsigned tax return is like an unsigned check – it is invalid. And, remember on joint returns both taxpayers must sign the return.
   Source: www.irs.gov