5 Common Tax Filing Mistakes

Learn More About 5 Common Tax Filing Mistakes From your Georgia Tax Attorney

Mistakes on tax forms are one of the most common issues people run into during tax season. The Atlanta tax attorneys at The Law Office of Max Benkel want you to know that by avoiding these common mistakes you save yourself some time and headaches.

Choosing the Wrong Filing Status

Since you’re eligible for more than one filing status, the choice you make could make all the difference. The five filing statuses are:

  • Single
  • Head of household
  • Married filing separately
  • Married filing jointly
  • Qualifying widow(er)

Making Errors in Your Math

Did you know that IRS software catches these mistakes early on and will usually mail a notice describing the error and informing you that your refund has changed (or more funds if owed)? Resolving math mistakes is fairly simple, but they can delay processing your return.

Failing to Claim Tax Deductions

Whether you are a first-time homebuyer, a renter or a homeowner, understanding your tax deductions and credits can help you save money on your tax bill. If you think you know all the deductions and credits available to you, tax attorneys in Atlanta are likely to say you may not.

For example, your tax attorney in Atlanta would tell you about The American Rescue Plan Act (ARPA) is a temporary tax code that will be in effect for the 2019 tax year, which will be the first year that the full impact of this bill can be seen. ARPA includes changes to:

  • The Premium Tax Credit
  • The Child Tax Credit
  • The Earned Income Tax Credit
  • The Child and Dependent Care Credit

The IRS will catch your missing W-2 income, but they won’t fix your return if you forgot to claim the Home Office Deduction or the Child and Dependent Care Credit. A reputable Atlanta Tax Law firm will catch those.

Paper Filing Missteps

Want to know the best way to file your tax return? It’s not about rushing through the process or filing early, but instead, filing accurately so that you get a refund in time for that holiday you’ve been waiting to splurge on.

For example, when an institution or organization issues a tax form to the taxpayer, it is usually issued late by a few weeks. In order for your tax return to be accepted, you need to have filed all the required information. Make sure you have all the details about your activities on hand before submitting your tax return.

The IRS shows that paper returns have a 21% error ratio, but the error rate for e-filed returns is less than 1%. So, when you can e-file your taxes, do so. Common tax filing mistakes most often made when filing paper tax returns include:

  • Failure to sign and date the return
  • Putting inadequate postage on the envelope
  • Not mailing the official papers and tax return to the appropriate IRS office
  • Forget to include the essential forms
  • Arranging tax forms out of order

Entering the Banking Information

If you’re waiting on a refund to be deposited into your bank account, you’ll be waiting a long time if you enter the wrong account or routing number.

After you input your routing number and account number, the IRS attempts to validate the routing number and account number. If it is invalid, you will be sent a paper check instead of a direct deposit.

If you enter an account number that belongs to someone else, they could get your refund and then you’ll have to work with the bank to recover your refund.

By consulting with one of the many qualified Georgia tax attorneys that are available, you can rest assured the IRS won’t have any surprises in store for you.

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