Let explains tax filing tips in details one by one. No one gets excited about filing their taxes, but that’s not to say you should wait until the last minute to get it done. This is especially important for filers who have complex returns- because if you wait too long to schedule an appointment with a tax professional, you’re likely to find that everyone’s schedule is already fully booked.
Also, of note, is that people who wait until the last minute to file their 2023 taxes are far more likely to make mistakes (especially if they try to prepare the return themselves.) Below are just a few of the mistakes that the IRS says you’ll want to avoid.
Tax Filing Tips Read it Carefully
Missing or inaccurate Social Security numbers
Each SSN on a tax return should appear exactly as printed on the Social Security card. If your SSN is incorrect, this will delay the filing of your return.
Misspelled names
The names of all taxpayers and dependents listed on the return should match the names on their Social Security cards. If names are spelled incorrectly, or the names that are used don’t match the SSNs on the form, this will delay the filing of your return.
Inaccurate information
Tax filers should carefully enter any and all wages, dividends, bank interest and other income they received to make sure they report the correct amounts. This includes any information taxpayers need to calculate credits and deductions.
Incorrect filing status
Some taxpayers choose the wrong filing status. If you make this mistake, you’ll likely need to file an amended return.
Math mistakes
Math errors are some of the most common mistakes that tax filers make. They range from simple addition and subtraction to more complex calculations. Taxpayers should always double (if not triple) check their math.
Figuring credits or deductions
Taxpayers can make mistakes figuring things like their earned income tax credit, child and dependent care credit and child tax credit. As we noted above, be sure to double if not triple check your math.
Incorrect bank account numbers
Filers who are due a refund should choose direct deposit. This is the fastest way for them to get their money. If you make a mistake and enter the wrong bank account number, this can cause an enormous amount of headache in the future (especially if you’re expecting a sizable refund.) Double check your information.
Unsigned forms
Lots of tax filers are surprised to learn that unsigned tax returns aren’t valid. If you’re filing a joint return, both you and your spouse will likely need to sign. Not signing your tax return can result in lengthy delays.
Do you need help filing your 2023 taxes? Are you concerned you won’t be able to get a tax appointment in time and you need help filing an extension to file? We can help. Call our office today to get started.
