Filing your taxes can feel stressful, and even small mistakes can have big consequences. Errors in your return can delay refunds, trigger penalties, or even result in your return being rejected. But the good news is that many of these mistakes are avoidable with a little extra attention. Here are the seven most common tax filing mistakes and tips on how to avoid them.
1. Entering the Wrong Social Security Numbers
One of the most frequent mistakes is entering incorrect Social Security numbers for yourself, your spouse, or your dependents. Even a small typo can result in your return being rejected or your refund being delayed. Double-check every Social Security number before filing to ensure everything matches official records.
2. Using the Wrong Name on Your Return
If your name has changed recently—due to marriage, divorce, or other reasons—or if there is a typo, this can cause issues with your filing. Make sure the name on your tax return matches exactly with what appears on your Social Security card or other official documents to avoid delays or rejection.
3. Choosing the Incorrect Filing Status
Selecting the wrong filing status is a common mistake that can lead to paying more taxes than necessary. For example, if you're married but accidentally file as single, it could cost you valuable deductions. Review your filing status options carefully—whether single, married filing jointly, or head of household—and select the one that best fits your situation.
4. Forgetting to Sign Your Return
A missing signature can cause your return to be rejected by the IRS. Make sure both spouses sign if you are filing a joint return. This small but essential step can save you from having to resubmit your return.
5. Making Math Errors
Math errors are a common issue, especially when calculating totals and credits by hand. Double-check your math to ensure everything adds up correctly. Better yet, consider working with a tax preparer (like me!) to avoid errors and ensure your calculations are accurate.
6. Overlooking the Earned Income Tax Credit (EITC)
The Earned Income Tax Credit (EITC) is a valuable benefit for low to moderate-income earners, but many people miss out by not claiming it. Check your eligibility carefully—even if you don't owe taxes, you could still receive a refund through this credit. Don't leave money on the table!
7. Missing Deductions for Business Expenses or Charitable Contributions
Small business owners and self-employed individuals often overlook expenses that qualify as deductions. Similarly, donations to qualified charitable organizations can provide additional tax savings. Keep detailed records of your expenses and contributions throughout the year to ensure you’re maximizing your deductions.
Mistakes on your tax return can cause delays, lost refunds, or unnecessary stress—but with a little care and preparation, they’re easy to avoid. Double-check your Social Security numbers, names, and filing status, ensure your return is signed, and carefully review your math and eligibility for credits like the EITC.