The Internal Revenue Service recommends you make and send your tax report in the most correct way possible. Invest additional time if it is necessary. If you make mistakes in your report, then it may take more time for the IRS to process it, causing delays in reimbursement or resulting in an increase in the amount you have to pay in taxes. Avoid common mistakes by sending the report electronically. When you send your taxes electronically to the IRS, the IRS processes it immediately and detects any errors.
Here we share the most common mistakes while sending taxes and how to avoid them:
1. Wrong Social Security Number. Make sure to check if your SSN is exactly as it appears on your Social Security card.
2. Wrong Names. Check and compare the names with your Social Security card.
3. Error in the marital status. Some people use the wrong marital status. If you have doubts about it, ask and discuss with your preparer to determine what your true marital status is.
4. Mathematical errors. Sometimes the software or the preparer can make mistakes.
5. Error Calculating Your Credit. Many people make the mistake of not doing their taxes electronically or claiming their credits properly. While doing them electronically, the margin of error decreases and it is possible to apply the credits properly.
6. Wrong Account Bank Number. You can choose to have your refund directly deposited into your bank account or have your electronic taxes paid. However, it is recommended to carefully check both the routing number and the bank accounting number used. This is the fastest and safest method to get a refund.
7. Lack of signatures on the Tax Report. A report unsigned is like an unsigned check, it is not valid. Both spouses must sign the report. However, because the signature is digital, you can avoid this error by sending it electronically instead of physically sending it to the IRS.
8. Electronic Personal Number Code. When you submit your electronic report, send it using a personal identification code. This is the only purpose of this code.
9. Errors in the Medical Insurance Report. The most common mistake is not reporting medical care and not claiming coverage exceptions. Reconciling the amounts paid by the government and paid by you is very important.
Remember that every taxpayer has his fundamental rights. Keep them in your mind when you call or talk to the IRS.