Watching for Common Tax Errors

Do you have taxes on your mind? Problem is, when we file our own taxes, we can make some pretty big mistakes. Here’s a list of common tax errors that you should be watching for when you do your taxes this filing season.

  • Filing the wrong status (dependent or independent, 0 instead of 1, etc)
  • Missing forms
  • Forgetting to sign it
  • Not checking out new laws
  • Math errors or mixing up numbers
  • Forgetting to put earned interest on your taxes
  • Not claiming your charitable donations
  • Forgetting to write in your social security number or mixing up numbers in it.
  • Not using the labels that the IRS provides
  • Missing the deadlines
  • Not checking last year’s taxes to see if anything carries over
  • Not taking deductions where they’re due (IRA’s, too much Social Security being taken out)
  • Not including dependents who don’t live with you
  • Claiming someone as a dependent who claimed themselves as independent
  • Not filing domestic or self-employment taxes.
  • Not claiming credits where they’re due (Child Tax Credit, Earned Income Credit)
  • Sending stuff to the wrong place (this is prevented when you use the aforementioned labels)

How do you prevent these? Well, there’s two ways.

  • Check and double check. And triple check… Seriously, there’s no such thing as looking at something too much. If you have a friend or family member that you trust, it’s also not a bad idea to have them look at it too.
  • Go to a professional. If you can afford it and are willing to put money down in order to get the maximum refund, go to a pro. They get paid to know what they do, and they can catch stuff that you would have totally overlooked for one reason or another.