Mistakes In Tax Return Preparation (Part 2)
- March 2, 2023
- David Greene
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Recently I stated that I can think of ten mistakes that are most often made when preparing a tax return. In that blog I listed 5 and in this blog I will tell you the remainder. Here they are: (6) providing the wrong bank information for your refund. At best this will delay your refund or require you to request that the IRS trace where the refund went. (7) mailing a paper return to the wrong address (the correct mailing address for your area is printed in the instructions for the return); (8) forgetting to sign and date your return (the IRS will not accept a return that is not signed and/or dated – by both taxpayers if filing joint; (9) not making a copy of your return – you should always keep a copy of your return and all documents used to prepare it for at least three years. This is how long the IRS has to audit your return. (10) needing more time to file – remember that you can file for a filing extension until October 15 if you need more time to file. However, this is not an extension to pay – your taxes are still due by the April deadline (usually April 15). Avoid all of these mistakes and you should have no problem.