The Internal Revenue Service has released some helpful tips on 03 April, 2017 to avoid some common tax-filing errors. To avoid many common errors, IRS encourages the taxpayer to file return electronically which is the most accurate way to file the tax return. Seven out of ten taxpayers can use IRS Free File software at no cost. IRS also encourages taxpayers to take extra time to complete their tax return if needed. As the April 18 income tax filing deadline approaches, millions of taxpayers may be rushing to complete their taxes and many may realize they’re going to need more time. Rushing to complete a tax return at the last minute can result in mistakes. Making a mistake on a tax return means it will likely take longer for the IRS to process it. That could delay a tax refund.
Some helpful tips to avoid common tax-filing errors are;
- E-filing- through e-file or IRS Free File, vastly reduces tax return errors
- Mail a paper return to the right address. Paper filers should check IRS.gov or their tax form instructions for the appropriate address where to file to avoid processing delays.
- Take a close look at the tax tables. When figuring tax using the tax tables, taxpayers should be sure to use the correct column for the filing status claimed.
- Fill in all requested information clearly. When entering information on the tax return, including Social Security numbers, take the time to be sure it is accurate and easy to read. Also, check only one filing status and the appropriate exemption boxes.
- Review all figures. While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.
- Sign and date the return. If filing a joint return, both spouses must sign and date the return. When filing an individual tax return electronically, taxpayers must electronically sign the tax return using a personal identification number (PIN): either the Self-Select PIN or the Practitioner PIN method.
- Attach all required forms. Paper filers need to attach W-2s and other forms to the front of their returns that reflect tax withholding.
- Keep a copy of the return. Once ready to be filed, taxpayers should make a copy of their signed return and all schedules for their records.
