Although most taxpayers strive to complete their tax returns correctly and on time, they could make innocent mistakes that are not discovered before they file. These mistakes can get the attention of the IRS and lead to an inquiry or an audit. The team at Cheryl Hawkins Tax and Accounting, located in Jordan, MN, discusses some innocent tax return mistakes that cause problems with the IRS.

3 Tax Return Mistakes That Can Cause Trouble With the IRS

1. Making Math Errors

It's easy to make a math mistake when filing a paper tax return. If you prefer doing your taxes by hand, double check all the addition and subtraction before you file. The IRS prefers that amounts be rounded to the nearest dollar instead of specific to the penny.  A great way to avoid math errors is to hire a tax professional who will make sure you don't pay more to the IRS than you need to.

2. Forgetting Signatures

Whether you file online or by mail, you must sign and date your return. If you forget your signature and your spouse's if you are filing jointly, your tax return is considered invalid, and there will be a delay in processing. When you make this error, you won't receive your refund on time if you are owed one.

3. Entering Incorrect Bank Account Information

Opting for direct deposit of your refund is the safest way to get the money you are owed. If you choose this option, it's important to include the correct bank account information to make sure you receive your refund quickly. Double-check to make sure the account information is accurate before you file.  

Let the experienced team at Cheryl Hawkins Tax and Accounting help you prepare your individual or business tax returns to ensure your taxes are filed correctly. Give them a call at (952) 222-8272 to speak with a CPA. You can also visit them online to learn more about the tax preparation and bookkeeping services available.