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Frequent Tax Errors
Tax return mistakes most always negatively affect you - whether it's in a lost opportunity to claim a tax deduction or an error that ends in an audit and penalties.
Avoiding mistakes is easy if you e-file,
We've compiled a list of the most frequent tax errors.
Do your taxes online, for free: If you want to avoid costly mistakes, while at the same time taking advantage of all possible credits and deductions, you want to do your taxes online.
TurboTax allows you to work on your return for free, until you file. Work on your federal, state, and small business taxes, and pay nothing until you are satisfied with your return. Start now.
Frequent tax errors
Incorrect Social Security
Computed incorrect tax owed
Wrong earned income credit
Wrong child tax credit
Wrong refund/balance due
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1.16 Million
789,000
514,000
496,000
330,000
| Source: IRS |
Other common errors include:
• Using the wrong filing status
• No receipts
• Not claiming tax free status on rollovers
• Forgetting about mortgage points
• Unnecessarily completing Schedule D
• Not having a social security number
The simplest way to avoid errors is to prepare and file your return online.
H&R Block provides an easy service that eliminates costly mistakes and is a breeze to use.
H&R Block is free to use until you're ready to file.
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©Copyright 2005 Taxes In-Depth LLC
Read this disclaimer: This internet site provides information of a general nature for educational purposes only and is not intended to be legal or tax advice. We make no guarantees as to the validity of the information presented. Your particular facts and circumstances, and changes in the law, must be considered when applying U.S. tax law. You should always consult with a competent tax professional licensed in your state with respect to your particular situation.