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10 Common Tax Return Mistakes
Post Your Comments Published by Patrick Warholic on April 4, 2007 at 8:39 AM.
Even a simple error on a taxpayer’s return can needlessly delay a refund and may even cause an overpayment.
Below is a list of some common tax filing mistakes.
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Below is a list of some common tax filing mistakes.
- Social security number(s) incorrect, missing, or don’t match name(s)
- Required documentation (W-2s, etc) not attached
- Return not signed
- Incorrect filing status recorded
- Math errors (Note: According to the IRS, a math error is an incorrect number entered on the return. There need not be a calculation. Example: reporting wages of $29,472 as $24,972.)
- Incorrect or missing forms and schedules
- Standard deduction used when itemizing is more advantageous
- Social security taxable benefits worksheet not completed
- Failing to claim credits (child tax credit, earned income credit, etc) or figuring credits incorrectly (Often because of not understanding credit eligibility or calculating incorrectly)
- Omitting income items – such as interest from savings or checking accounts
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free MLS Home and property searches, free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
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