Common Tax Filing Mistakes to Avoid Before the Deadline
Common Tax Filing Mistakes to Avoid
Tax season in the US is reaching its deadline, prompting individuals to ensure accurate tax filings.
Key Tips to Prevent Errors:
- Incorrect Social Security Number: Always verify this crucial detail.
- Wrong Filing Status: Select the correct status to avoid complications.
- Incomplete Information: Ensure no 1099s or essential data is missing.
Founder Dan Geltrude stresses the significance of these details to prevent IRS scrutiny.
Missing these items can bring unwanted attention to your tax return.
Geltrude advises prompt tax filing for those who owe taxes, recommending strategies to minimize penalties.
Effective Payment Approaches:
- Payment Plan: Structure your payments to meet tax obligations.
- Offer in Compromise: Negotiate a payment plan with the IRS.
For gig workers with 1099 income, Geltrude encourages reporting on Schedule C for deductions and efficient income management.
Optimize your tax filing process and financial strategies to navigate tax season successfully.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.