There are many benefits to entrusting your return to a registered tax preparer (Ahem, for example…Gold Standard), one of them is avoiding delays in receiving your tax refund. You worked very hard for that money, you shouldn’t have to wait longer than necessary for it! The biggest culprit for delays in processing returns is inaccuracy. Recently the IRS released 9 common tax-filing errors:
- Wrong or Missing Social Security Numbers.
- Wrong Names. The names of everyone on your tax return must be spelled correctly, exactly as they appear on your social security card.
- Filing Status Errors. Some People use the wrong filing status, such as Head of Household instead of Single.
- Math Mistakes. According to the IRS, math errors are one of the most common mistakes on a tax return.
- Errors in Figuring Tax Credits or Deductions. Many filers make mistakes filing figuring their Earned Income Tax Credit, Child and Dependent Care Credit, and the standard deduction.
- Incorrect Bank Account Numbers.
- Forms Not Signed.
- Electronic Filing PIN Errors.
- Health Care Reporting Errors. The most common health care reporting errors that taxpayers make involve failing to claim coverage exemption and not reconciling in advance payments of the premium tax credit. If you don’t have qualifying health care coverage but meet certain criteria, you might be eligible to claim and exemption from coverage and avoid an unnecessary payment when you file your tax return.
Rushing to get your return filed only makes mistakes more likely to happen. Get your tax documents over to us today and imagine how you will spend your refund while you breathe easy knowing that your information is being reported accurately!
