4 tax return errors that may delay your return

Insignificant at first glance, mistakes can have enormous consequences when it comes to tax returns. Even the smallest mistake can lead to a delay in returning funds or increase the likelihood of checking your finances and activities by the Internal Revenue Service (IRS).

Фото: Depositphotos

Edition USA Today compiled a list of the most common mistakes in tax returns.

Error in social security number

According to the IRS, specifying the wrong social security numbers in tax returns is one of the most common mistakes. This error may be the result of a banal typo when filling out the program for filing declarations. There may also be mistakes in the social security numbers of children when they are indicated in the declaration as being on maintenance. An incorrect social security number in the declaration is likely to entail a rather serious check by the IRS, since this is the first sign that the declaration can be filed by the person who has stolen someone's personal data, and therefore it is fraudulent. Therefore, before you hit Submit, do not be lazy to check again whether you indicated in the declaration the social insurance numbers of all the persons you entered there.

Status error

U.S. taxpayers can choose from several different filing status options (single individual, married couple filing jointly, head of household filing, etc.). In some cases, choosing the wrong status will not cause a problem with the IRS processing your return, but will likely cause you to pay more in taxes. For example, if you qualify as a head of household but choose to file single instead, you will lose the higher standard deduction that a head of household is entitled to and will also pay higher income tax rates. In other cases, incorrect filing status may cause your refund to be rejected—for example, if you elect to file jointly when you are not married. Either way, selecting the wrong filing status will definitely lead to headaches and time wasted in correcting the error.

Error in spelling the name

After spending a few hours drawing up a declaration, you can really forget how to spell your own name. Mistakes in the spelling of a name are among the most common when filling out a tax return. Remember that your name (the name of your spouse and those on the payroll) must exactly match their names on the social security cards. If your name is written incorrectly on your social security card or it has changed, for example, you entered into a marriage and changed your name, then you should contact the social security administration and correct the name in the card. But before correction to submit a declaration, you will need to use the exact name that is indicated on your social security card.

Mathematical errors

If you use special software for the preparation of the declaration, then it, as a rule, will do all the math for you and will not allow any arithmetic errors. However, if you initially enter the wrong numbers into the program, you will get the wrong results, no matter how perfect the computer calculations. Therefore, even if you use a computer to make a declaration, it is important to double-check all the entered figures and make sure that they correspond to the data specified in your tax documents.

For example, when you enter your salary data from your W-2 form, it is fairly easy to put the decimal point in the wrong place or swap two adjacent numbers, but such an error can have very unpleasant consequences for your return and also lead to a check from IRS. Remember that the IRS also receives copies of your W-2 forms and other tax documents, and if the numbers you provided in the declaration do not match the data in these documents, the agency’s computers will report an error, which may entail checking your finances.

If you decide to prepare your declaration yourself, the best way to avoid mistakes is to work in two separate sessions. Fill out the declaration, then postpone all documents documents for at least 24 hours. After this time, go back to the declaration and double check all the names, numbers and calculations. Returning to this with a fresh head, you are likely to find errors and correct them before the declaration gets to the IRS.

Read also on ForumDaily:

What tax breaks can pet owners get in the US?

How to choose a tax specialist. 9 rules from ForumDaily

Laws that will take effect in the US in 2018 year

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.