7 Common Mistakes Americans Make When Filing Tax Returns
Sunday, 3 March 2024, 11:00
7 Common Mistakes Americans Make When Filing Tax Returns
Death may be as inevitable as taxes, but to some folks, it's not half as scary. Some of the common mistakes we make when filing taxes simply mean a delay in processing. Other mistakes can lead to fines or, in the worst case, a complete audit.
- Filing too late: Avoid penalties by filing on time or requesting an extension.
- Filing too early: Ensure you have all necessary documents before filing to avoid discrepancies.
- Spelling mistakes: Double-check your name for accuracy to match your Social Security card.
- Math errors: Use tax-filing software or professional help for accurate calculations.
- Wrong filing status: Choose the right status to maximize deductions and avoid penalties.
- Unsigned forms: Always sign where required to avoid processing delays.
- Incorrect bank info: Check and recheck routing and account numbers for direct deposit accuracy.
Whether you're a early bird filer or a last-minute one, ensure you avoid these 7 common tax filing mistakes to navigate the season smoothly.
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.