millions of Americans are put into a position in which they are trying to
navigate the often complicated world of filling out their tax forms, and their
lack of familiarity with doing so can often lead to errors that could end up
costing them money or causing a hassle later on. As such, knowing some of the
most common mistakes people make might help them to get a better handle on
their filings going forward.
the biggest mistake any consumer can make in filling out tax forms is writing down incorrect information for themselves or the
others listed on their filings, according to a report from Inman News. For
example, mistyping or printing Social Security numbers, names, and so on can
create massive complications that may make it very difficult for the IRS to
process forms expediently, or at all. This is also true of inputting incorrect
bank account numbers, because while it won't affect filings, it can certainly
delay the distribution of refunds if necessary.
Of course, one of the more common mistakes that many people make has nothing to
do with writing down the wrong information, but rather doing the necessary math
on their filings incorrectly, the report said. Not carrying a number here or
there is especially problematic for those who still submit paper forms, as the
process is typically automated with electronic filings.
extremely common mistake that's easily avoidable but can create a major problem
is simply making sure to sign and date the necessary tax forms, the report
said. Unless the IRS receives signatures and dates on both all submitted
documents, the filing is invalid. In addition, for people who are married and
filing jointly, the signatures of both spouses must be on the documents in
order to be processed.
great way to avoid making any mistakes in filling out various forms during
filing season is to work with an experienced tax professional throughout the
entire process. This may help to not only get around potential errors, but
uncover potential benefits or deductions that the consumer didn't know about,
which might end up saving them large sums of money.
For a more
in-depth look at Liberty Tax Service, visit the Give Me
Liberty! Magazine. Follow Liberty Tax on Facebook and on Twitter or contact
Liberty Tax directly at 1-877-at-Liberty.