Tax Tips for October Filers

October 01, 2014 by Karen Reed, EA
October 15

If at this late date you still haven’t filed your tax return, here are some tips to help you avoid many of the most common tax return errors:
 

  1. Double check spelling of names and make sure social security numbers are listed correctly.
  2. Choose the best (and correct) filing status for your situation. If you are not sure, use the IRS’s Interactive Tax Assistant.
  3. If you’ve done any calculations outside the tax program, double check them for accuracy.
  4. When there is more than one correct option for a credit or deduction, be sure to select the one that is most advantageous.
  5. If there is direct deposit or debit involved, verify that the bank account information is correct.
  6. If you are mailing in your return and/or a payment, don’t forget to sign and date your tax return and check.
  7. Mail your checks and tax returns to the correct IRS and state tax offices.
  8. Avoid Electronic Filing Errors by having last year’s e-file PIN or Adjusted Gross Income amount available when you e-file.


If you receive a letter or notice from the IRS, open it immediately. With tax identify theft on the rise, many taxpayer are receiving letters from the IRS’s Identity Verification Service. If you receive IRS Letter Number LTR5071C, your return will not be processed until you verify your identity, either by calling the telephone number provided on your letter or through the agency’s secure online verification system at idverify.irs.gov.

Tags: tax filing

SEARCH

 

Karen Reed, EA

 

During her years as an audit representative for TaxAudit, Karen successfully defended the company’s members throughout the entire federal and state audit processes, handled cases assigned to US Tax Court, and developed procedures to make the audit process easier for taxpayers. Karen attributes a great deal of her tax acumen to the six tax seasons she spent as a return reviewer, analyzing thousands of returns. Responding in writing to questions from taxpayers, she became familiar with the common mistakes self-preparers make. Karen was previously the manager of the Tax Education and Research Department and the Director of Communications at TaxAudit. Her tax advice has been featured in U.S. News and World Report, the Los Angeles Times, the Chicago Tribune, and other publications.


 

Recent Articles

Double Taxation written on notepad
Most states that have income taxes offer a credit for taxes paid to another state on the same income, although how that credit is calculated is not identical.
File Cabinet with Documents
IRS notice CP05A is sent by the IRS to inform taxpayers that they need more information about the submitted income tax return before a tax refund can be issued.
Father and son baking cookies
You received an IRS CP87A because someone else filed a tax return and claimed the same dependent or qualifying child that you claimed on your tax return.
Man worried about money
Per the collection statute expiration date, the IRS generally has 10 years from the date they assess your tax balance to collect taxes owed.
This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.