Top Income Tax Preparation Mistakes You Should Avoid
Filing wrong tax returns in Plantation can bring you under the strict laws of the state and the federal government. Learn about the serious tax return mistakes you should avoid and how Income Tax Preparation in Plantation can help.
Avoid these Tax Return Mistakes
Tax laws imposed by the government in Plantation are strict and leave no space for errors. Moreover, missing to file some important documents may deprive you of the tax benefits. Therefore, make sure to avoid these crucial mistakes.
- Incorrect or missing Social Security numbers.
Every SSN should be entered on a tax return exactly as it is printed on the Social Security card.
- Incorrect names
The name on a person’s Social Security card should also match the name on their tax return.
- Incorrect filing status
Certain taxpayers select the incorrect filing status. When more than one filing status is applicable, the Interactive Tax Assistant on IRS.gov can assist taxpayers in selecting the best option. Additionally, tax software aids in avoiding errors in filing status.
- Math errors.
One of the most typical blunders involves math. The calculations range from straightforward addition and subtraction to more difficult ones. Taxpayers should always verify their calculations. Better yet, tax preparation software automates the process.
- Calculating deductions or credits.
Taxpayers often make mistakes when calculating items like the standard deduction, child and dependent care credits, and earned income tax credits. Taxpayers should constantly pay close attention to the guidelines. For instance, if a taxpayer is not itemizing, they should claim the right, larger standard deduction if their age is 65 or more or blind. The Interactive Tax Assistant can assist with determining if a taxpayer is qualified for tax credits or deductions. Include all necessary schedules and documents.
- False information about bank accounts.
Direct deposit is the preferred option for taxpayers who are due a refund. For a taxpayer, this is the quickest way to receive their money. The exact routing and account numbers must be used on the taxpayer’s tax return.
- Filing with a tax identification number that has expired.
If a taxpayer’s ITIN has expired, they should still use it to submit their tax return. That return will be processed by the IRS and treated as one that was submitted on time. Filing an income tax return with an expired ITIN, the IRS will not accept any exemptions or credits. A message informing the taxpayer to renew their number will be sent to them. The IRS will process the return normally once the person has renewed their ITIN.
How Professional Income Tax Preparation in Plantation Helps
Do you know how to prepare your tax returns to claim the maximum tax benefits? OG Accounting Services provide the best and most highly professional services for Income Tax Preparation in Plantation.
We are a group of highly experienced Tax experts committed to filing error-free tax returns for our clients and ensuring to bring them the maximum tax returns. From individuals to business owners, we provide exceptional services for Income Tax Preparation in Plantation.
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