Mistake #1    Failure to Provide Your Social Security Number and Other Required Information

 

Incorrect or missing social security numbers are one of the most common tax return mistakes. If you mail a paper return, use the peel-off label that came with your tax packet. You can make corrections right on the label. Be sure to fill in your social security number in the box provided on the return.

 

If you do not have a peel-off label or you need to make too many corrections, fill in all of the required information--including names, social security numbers, and address with zip code--directly on the form. Print clearly.

 

Mistake #2    Incorrect Filing Status or Exemptions

 

• Check only one filing status box.
• Check the appropriate exemption boxes and include the correct social security number for each exemption.
• Your name and the names of your spouse, dependents, and qualifying children for earned income credit or child tax credit must be exactly as they appear on their social security cards. If there have been any name changes, go to http://www.ssa.gov/gethelp1.htm.
• Enter your total number of exemptions.

 

Mistake #3    Computational Errors

 

Double check all of your calculations. The most common computational errors include:

 

• Taxable income
• Withholding and estimated tax payments
• Earned income credit
• Standard deduction for those 65 or older or blind
• Taxable amount of social security benefits
• Child and dependent care credit

 

Double check all of your arithmetic. Errors in addition and subtraction are very common. All negative amounts should be in brackets. Be sure that you have entered income, deductions and credits on the correct lines and that the totals are correct.

 

If you are taking the standard deduction and you checked any of the boxes indicating that either you or your spouse is age 65 or older or blind, be sure that you found your correct standard deduction using the worksheet in the Form 1040 Instructions or Form 1040A Instructions.

Mistake #4    Incorrect Tax Calculations

 

Entering the wrong tax for your taxable income and filing status is one of the most common mistakes. Be sure that you have figured your tax correctly. If you use the tax tables, be sure to use the column that corresponds to your filing status.

Mistake #5    Failure to Correctly Enter Taxes Paid

 

Be sure to enter your withholding and estimated tax payments on the correct lines. Entering these payments on the wrong lines is a very common mistake.

 

Mistake #6    Failure to Correctly Identify Child Care Providers

 

Be sure to enter the correct identification numbers for your child care providers. Missing or incorrect provider identification numbers are very common mistakes.

 

Mistake #7    Incorrect Routing and Account Numbers for Refunds

 

If you are requesting direct deposit of your tax refund, be sure that your account number and the routing number of your financial institution are entered correctly. Incorrect numbers can cause your refund to be misdirected or delayed.

 

Mistake #8     Failure to Sign and Date Your Return

 

Be sure to sign and date your tax return. If you are filing a joint return, both spouses must sign and date it.

 

Mistake #9    Failure to Attach All Required Forms

 

Be sure that you have a Wage or Tax Statement or Form W-2 from each of your employers. Attach Copy B of each Form W-2 and any other forms that show federal income tax withheld, such as Form 1099-R,  to the front of your tax return. Combine the wages and withholdings from all of your W-2s on one return. Be sure to attach all other necessary forms and schedules to your tax return in the sequence indicated by the number in the upper right-hand corner of the form.

 

Mistake #10   Improper Payment or Mailing

 

If your return shows that you owe tax, include a check or money order payable to the “United States Treasury.” If you use a payment voucher, Form 1040-V, be sure to include it with your return. You can also pay your tax with a credit card. Your payment must show the following:

 

• Your name
• Address
• Social security number
• Daytime telephone number
• Tax form number and year

 

Before you send your information, be sure to:

• Review your entire tax return carefully, since mistakes can delay processing.
• Make a copy of your signed return and all schedules for your records.

 

Mail your tax return in the pre-addressed envelope that came with your tax booklet. If you do not have a pre-addressed envelope, look in the “Where Do You File?” section of the tax instruction booklet or go to http://www.irs.gov/file/index.html to find where to mail your return. Use the correct amount of postage.

 

You can eliminate many tax mistakes by filing electronically because the computer software avoids or corrects many common errors.

 

 

Additional Resources

 

• IRS:                  http://www.irs.gov/newsroom/article/0,,id=169240,00.html
• IRS:                  http://www.irs.gov/taxtopics/tc303.html
• Library Spot:    http://www.libraryspot.com/lists/list5.htm