What to Keep in Mind While Filing Taxes

Last updated on October 30, 2013

To file taxes correctly, taxpayers need to carefully recheck the information on their tax return even if their return was prepared by a professional tax preparer. Small mistakes can lead to rejection of a tax return, or worse, tax debt. To ensure that they file correctly every time, taxpayers should re-check calculations on the return before they submit it. Although the IRS corrects minor mistakes in calculations, it is still important to recheck calculations to avoid complications later.

Taxpayers should also double-check their eligibility for the credits and deductions they claim to make sure they are truly qualified for them. Before they file the return, taxpayers should inspect their information to make certain that all details are correct.

One common mistake many taxpayers make is neglecting to put their Social Security Number (SSN) on their return. To prevent such mistakes, taxpayers can ask somebody else to review the information, but they should only ask someone they can trust.

Electronic filing is the most convenient method of submitting tax returns. Taxpayers can now file their tax returns through the IRS website. Taxpayers should file their returns early and not wait until the end of the tax season to file because filing returns in a hurry can lead to errors.

Due to the federal shutdown, the IRS has delayed the 2014 tax filing season by one to two weeks. Taxpayers must keep themselves up-to-date about the latest changes in the tax laws and IRS policies to ensure they stay compliant.