With only a few days remaining until the tax filing deadline on April 18, the Internal Revenue service provides tips on how to avoid common errors on federal tax returns and help get possible refunds sooner.
Gather all tax documents
- Taxpayers should gather all documents to support tax deductions or credits like education credits or mortgage interest payments
- Taxpayer should also have tax returns from previous years available
Fire electronically
- File tax returns electronically through IRS Free File or other e-file service providers
- Electronic filing helps to reduce math errors and finds potential tax credits or deductions that may be eligible to claim
- Taxpayer should always review their tax return for accuracy
- Filing electronically and choosing direct deposit is the fastest and most secure way to receive a refund
Use the correct filing status
- Tax software helps to prevent mistakes when selecting a tax return filing status
- If taxpayer are unsure about their status, the Interactive Tax Assistant online can help them choose the correct status
Double-check name, birth date, and Social Security number
- Correctly list the name, date of birth, and Social Security number for each person they claim as a dependent on their individual income tax return
- Enter each Social Security Number (SSN) and person’s name on a tax return exactly as printed on the SSN card
Answer the digital assets question
- Forms 1040 and 1040-SR for tax year 2022 ask whether, at any time during 2022, the taxpayer received (as a reward, award, or payment for property or services), sold, exchanged, gifted, or otherwise disposed of a digital asset (or financial interest in any digital asset.)
- Taxpayers cannot leave this field blank. “Yes” or “No” should be checked.
Report all taxable income
Double check routing and account numbers
- Taxpayers can request the direct deposit of a federal refund into one, two, or even three accounts
- Make sure the financial institution routing and account numbers entered on the return are accurate
- Incorrect numbers can cause a refund to be delayed or deposited into the wrong account
Mail paper returns to the right address
Sign and date the return
- If filing a joint return, both spouses must sign and date the document
- When taxpayers are self-preparing their taxes and filing electronically, they must sign and validate their electronic tax return by entering their adjusted gross income from the previous year
Keep a copy of the tax return
- When ready to file, taxpayers should make a copy of their signed return and any schedules for their records
- Copies help prepare future tax returns and make math computations if they need to file an amended return
- Taxpayers must keep their records that support an item of income, deduction, or credit shown on their tax return until the period of limitations for the tax return ends
Request an extension if needed
- Taxpayers who need more time to file can easily request a six-month filing extension to October 16 to prevent late filing penalties
- Use IRS Free File or Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) by April 18
- Taxpayers can also request an extension by paying all or part of their estimated income tax due and indictating that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System, or a debit/credit card/digital wallet