As the tax filing deadline approaches, the Internal Revenue warns taxpayers against common tax-filing errors and advises them to take extra time to accomplish their taxes. The IRS noted that errors commonly occur among taxpayers who are completing the tax return at the last minute. Mistakes in Form 1040 lead to prolonged processing and can delay tax refund for qualified taxpayers.
To assist taxpayers, the federal revenue service gives some helpful tips that will help them avoid the most common tax-filing errors.
- File electronically. Electronic filing drastically reduces errors in calculation and filling out the form as the software guides you in entering information and does the calculations for you.
- Ensure correct routing and account numbers. Incorrect numbers can delay your tax refund claim or worse, it can be deposited into a wrong account. So be sure to enter the correct account numbers and financial institution routing when requesting direct deposit of tax refund.
- Take a closer look at the tax tables. You should use only the correct column for the filing status claimed.
- Fill out the forms correctly. When filling out the form, make sure you write the correct information legibly.
- Don’t miss any other attachments necessary. If you file on paper, you should attach a copy of W-2 and other forms declaring your withholding tax.
- Keep a personal copy. You should make a copy of the return and all schedules for your own record.
- Review the information you entered. If you file on paper, be sure to review all the information and figures you entered.
For more useful information on tax-filing, see full list of IRS tips here.
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