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Making Tax Time Less Taxing : Part Five--Check for Common Errors!





According to the IRS (Tax Topic 303) here are some of the common errors people make when filing their returns. Review this list against your return before filing, any of these errors can get your return rejected and delay your refund.

Name, social security number, address, and zip code is not clearly printed on the return.

Names and social security numbers of themselves, their dependents, and qualifying children for earned income credit or child tax credit, do not match their social security cards exactly. If there have been any name changes, you need to contact the Social Security Administration.

More than one filing status checked. Watch out for stray marks if doing your return by hand.

Appropriate exemption boxes not checked, total number of exemptions not entered, or names and social security numbers of dependents claimed do not exactly match those on the Social Security cards.

Income, deductions, and credits not entered on the correct lines. Incorrect totals.

No brackets around a negative amount on the return.

Incorrect standard deduction amount. If you or your spouse is blind, your standard deduction is higher.

The tax entered is incorrect. Check that you were in the right column when looking up your tax due in the tables.

Missing W-2 statement(s). Attach a copy of the W-2 you received from each employer.

Missing 1099-R form if you had any taxable distributions from an IRA or similar plan. You must attach any Form 1099-R that shows tax withholding.

Missing other necessary schedules and forms. These may include Schedule C for Business Profit and Loss, and Schedule D for Capital Gains--as well as other forms depending on your situation.

Forgetting to enclose a check or money order with the return if tax is due. Write your social security number, tax form, and tax year on the payment, see IRS Topic 158.

Withholding and estimated tax payments entered on the wrong line.

Math or computational errors--especially when calculating the child and dependent care credit or the earned income credit.

Failure to sign and date the return. If this is a joint return, your spouse must also sign and date the return. If done by a tax preparer, they must sign and date the return.

About John M. Hanevy

Copyright © F. Terrence Markle – All Rights Reserved

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