Whether it’s your first time filing or you’ve been doing it for years, mistakes happen. Taxes can get confusing, especially with changing rules, new forms, or life events. The good news? Most filing errors, including common mistakes filing taxes, are easy to avoid with a little extra care. Triple-checking your return before you submit can save you time, money, and stress. So let’s break down some of the most common tax filing mistakes and how you can stay one step ahead.
8 Common Mistakes
- Incorrect Social Security Numbers
The IRS matches tax returns to your social security records. One wrong number can stop your refund. Triple-check that your SSN–and for your spouse or dependents–is entered correctly to avoid common mistakes filing taxes.
- Misspelled Names
Your name must match exactly what’s on your social security card. Be sure you don’t have any typos or mismatches, especially after name changes, which could be common mistakes filing taxes. Always use your legal name.
- Filing the Wrong Status
Filing as Single vs Head of Household vs Married Filing Separately can impact your tax rate and refund. Ensure you’re using the most accurate status for your situation and ask for help if you’re unsure how to file. Mistakes in selecting the filing status are frequent and are among the common mistakes filing taxes.
- Forgetting to Report All Income
Whether you remember or not, the IRS gets copies of all of your W-2s, 1099s, and other income forms. Retain all of your work-related documents before filing. This can include side gigs, freelance work, or unemployment income.
- Not Signing the Return
An unsigned return is considered invalid (whether it’s electronic or physical). Ensure you have signed and dated your return–or follow all of the e-filing steps until you get a confirmation it was accepted.
- Using the Wrong Bank Information
While this one seems silly, it’s one of the easiest mistakes to do. One wrong number can deposit your return into the wrong account, making it harder to recover. Triple-check your routing and account numbers if you’re entering them for direct deposit.
- Filing Late Without an Extension
You can file late, but remembering to file an extension is key. Late files can lead to penalties and interest, no matter how much you owe. Remember, filing an extension gives you more time to file–not pay.
- Not Keeping Copies of Your Return
You may need to refer to your previous return when filing the current year’s taxes. They are also beneficial to have if you’re applying for loans, college aid, or fix a future issue. It’s best to save a digital or printed copy of your final return and any documents you filed with it.
Small Mistakes Can Cost You Big – Be Diligent
Most tax mistakes are easy to prevent with a little bit more attention. Don’t rush, keep everything organized and ready, and when in doubt, ask for help! Getting your taxes done the first time means faster refunds, fewer headaches, and most of all – peace of mind, avoiding any common mistakes filing taxes.
Steps to take before filing
Try to file electronically as this will catch most math errors.
Use the IRS online tools to get tax transcripts and account activity.
Have your returns reviewed by a tax professional to avoid common mistakes filing taxes.
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