Tax season doesn’t always have to be a stressful time. By being aware of how to avoid common errors, you can make the filing process easier and minimize your chances of being audited by the IRS. Below are four common mistakes people make when filing and preparing their taxes.

Don’t Make These 4 Mistakes When Filing Your Taxes 

1. Incorrect Names & Social Security Numbers

Your taxes are tied to your name and social security number, so it’s crucial to record them correctly on your filings. Your tax refund will be delayed if your name, your spouse’s name, or your dependents’ names are incorrect and don’t match the social security numbers the IRS has on file. If you’re a newly-married or newly-divorced person who recently changed their last name, notify the Social Security Administration of your new name.

2. Basic Math Errors

You might write down numbers incorrectly or make a math mistake on tax forms. The IRS looks at copies of your tax documents alongside your return, so you could have a problem if their copy doesn’t match yours. In addition, your tax refund might be lower due to a simple math error. It’s recommended to either rely on an accountant or tax software to eliminate the chances of a miscalculation.

3. Wrong Filing Status

There are five different ways you can file as a taxpayer: single, married filing jointly, married filing separately, head of household, and qualified widow or widower with dependent child. Make sure you’re filing as the right one, particularly if you’ve been recently married, divorced, or had children, since it could change your tax bill and your refund amount. Speak with an accountant if you’re unsure which one is best for you.

4. Late Filing

Because preparing your taxes isn’t the most enjoyable activity, you might leave it until the last minute. You could end up missing the deadline because you don’t have the necessary paperwork to file on time. If you don’t fill out a Form 4868 to ask for a 6-month extension, the IRS could fine you for either filing late or failing to file at all.

Did you file for a tax extension this year? Simplified Tax Inc has been the go-to tax preparation and accounting firm for residents of the Sparta, WI, area for over 40 years. Whether you need assistance with your personal or business taxes, their goal is to make the filing process easy to understand. Give them a call at (608) 269-2633 or visit their website to learn more about why they’re the trusted experts come tax season.