Tips For Avoiding Mistakes When Filing Taxes At The Last Minute
By: Stephen Crews
Updated: April 16, 2012
With the April 17 tax deadline looming, the Internal Revenue Service today reminded taxpayers to review their tax
returns for common errors that could delay the processing of their returns. Here are some ways to avoid common mistakes.
File electronically. Filing electronically, whether
through e-file
or IRS Free File,
vastly reduces tax return errors, as the tax software does the
calculations, flags common errors and prompts taxpayers for missing
information. And best of all, there is a free option for everyone.
Mail a paper return to the right address. Paper
filers should check the appropriate address where to file
in IRS.gov or their form instructions to avoid processing delays.
Take a close look at the tax tables. When figuring
tax using the tax tables,
taxpayers should be sure to use the correct column for the filing status claimed.
Fill in all requested information clearly.
When
entering information on the tax return, including Social Security
numbers, take the time to be sure it is correct and easy to read. Also,
check only one filing status and the appropriate exemption boxes.
Review all figures. While software catches and
prevents many errors on e-file returns, math errors remain common on paper returns.
Get the right routing and account numbers.
Requesting
direct deposit of a federal refund into one, two or even three accounts
is convenient and allows the taxpayer access to his or her money faster.
Make sure the financial institution routing and account numbers entered
on the return are accurate. Incorrect numbers
can cause a refund to be delayed or deposited into the wrong account.
Sign and date the return. If filing a joint return,
both spouses must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).
Attach all required forms.
Paper filers need
to attach W-2s and other forms that reflect tax withholding, to the
front of their returns. If requesting a payment agreement with the IRS,
also attach Form
9465
or Form 9465-FS to the front of the return. Attach all other necessary
schedules and forms in sequence number order shown in the upper
right-hand corner.
Keep a copy of the return. Once ready to be filed,
taxpayers should make a copy of their signed return and all schedules for their records.
Request a Filing Extension. For taxpayers
who
cannot meet the April 17 deadline, requesting a filing extension is
easy and will prevent late filing penalties. Either use Free File or Form
4868. But keep in mind that while an extension grants additional time to file, tax payments are still due April 17.
Owe tax? If so, a number of e-payment
options are available. Or send a check or money order payable to the "United States Treasury."
