Posted by The TaxAdvocate Group, LLC

Common Tax Filing Errors and How to Correct Them

Common Tax Filing Errors and How to Correct Them

When you expect a large tax refund from the IRS, you certainly want it as soon as possible. There are several ways to speed up repayment: send your Return electronically, request a refund by direct deposit instead of a paper check, and, most importantly, make sure your tax return is quick to make common mistakes.

There are many errors that the IRS regularly encounters. This generates an immediate warning signal and may require reimbursement to last for weeks or months as the IRS attempts to resolve the responses. In some conditions, it may be necessary to submit an amended return.

Be sure to check the returns for the following errors, which can be easily ignored.

Wrong Social Security Numbers

Make sure the social security numbers (SSNs) entered by you, your spouse, and your children or other dependents are correct. The IRS lists it as one of the most common filing mistakes and is easy to avoid. Please take a look at everyone's social security card and enter the number exactly as it appears.

This is an online passage that tax preparation software cannot verify because they do not have access to the social security administration database. An incorrect SSN can lead to refusal to return the electronic declaration. If you are sending the statement on paper, write the readable numbers, making sure they are clear and easy to read.

Wrong Name of the Taxpayer

If you are a couple and file a separate tax return, you are the taxpayer. Enter the name and social security number on the first line of Form 1040. The name of your spouse appears in the box to the right of the checkboxes in the presentation status, and your SSN goes to the "SSN of a spouse. "

Incorrect Names

Check that the names, spouses, and names of all dependents are the same as those on the appropriate social security cards.

If you newly got married, divorced, or legally changed for any other reason, but have not officially changed your name to Social Security Administration (SSA), you must file your Return with the name printed on your card social Security. Otherwise, the Return will be refused because there is an incompatibility with SSA records.

Ineligibility to Apply for Dependent Family Members

When you ask people who depend on qualified people in your taxes, make sure that you have the right to claim them. You cannot claim someone as an employee unless it is a child or a qualified parent.

Failing to sign the Return

If you are filing a joint tax return with your spouse, both must sign the tax return. Neglecting this step can delay the Return for weeks. The IRS will send the document for your signature and may also impose a fine for late Return.

Even if you use a prepaid tax preparer, always sign the tax return. You can avoid this error by sending the Return electronically and signing the Return digitally before submitting it to the IRS.

Mathematical Errors

Math errors are common in statements made without using tax software. If you are preparing for manual reporting, be sure to use the latest version of the IRS tax tables and verify your calculations three times.

If you are using tax preparation software, go through your calculations. Remember to enter all numbers exactly as they appear on W-2, 1099, and other charges. The program handles addition and subtraction, but you will not know if you have made a mistake, such as transposition numbers.

The different Filing States

This is a standard error in paper statements. Fortunately, some software will not allow you to choose multiple presentation states. If you send the account statement on paper, be sure to mark the excellent state of the presentation and only one.

Not Claiming EITC

EITC (Eligibility for the Earned Income Tax Credit) depends on your income, your marital status, and the number of people you have as dependents. Income limits are linked to inflation and therefore change every year. For the year, the adjusted gross income (indicated on line 7 of Form 1040) must be less than the following:

    •    If you have three or more qualified children: $ 50,162 ($ 55,952 if you are married and request a joint declaration)

    •    If you have two eligible children: $ 46,703 ($ 52,493 if you are married and get back together)

    •    If you have a qualified child: $ 41,094 ($ 46,884 if you are married and request a joint declaration)

    •    If you don't have a child: $15,570 ($21,370 if married filing jointly)

Not Claiming Age-Specific Deductions

If you are over 65, take advantage of the additional standard deduction for taxpayers over 65 or blind. For 2019, this additional deduction will have an additional value of $ 1,300 or $ 1,650 if you are not married, and you are not the surviving spouse. There is a worksheet on page 35 of the Form 1040 that helps you determine the amount of a deduction to which you are entitled.

Incorrect Account Number or Bank Routing

If you have requested a refund by direct deposit with the IRS, check the routes and the numbers in your bank account. It is also a common mistake that can cause delays and is easy to avoid.

Bottom Line

Do yourself and the IRS a favor and check your return statement for errors. It is easy to avoid some of the errors mentioned above if you are using the services of a tax preparer because even the best tax software will not detect income errors. Therefore, check your Return before submitting it. These simple steps can help you avoid rejected returns, late refunds, and annoying IRS alerts.

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