5 Tax Filing Mistakes That Will Delay Your Refund

5 Tax Filing Mistakes That Will Delay Your Refund

For small businesses, startups, and many American families, tax refunds are nothing short of a financial lifeline. These refunds help Americans survive times of financial turmoil and even enable them to achieve their long term goals. As tax refunds are crucially important, any delays in receiving them can have a disastrous impact on American families and fledgling firms.

To ensure that you never miss out on the financial support that you deserve, we’ve compiled a list of 5 common mistakes that can delay tax refunds. Follow this guide and you’re almost guaranteed a quick and errorless tax refund.

1. The Curious Case of Social Security Numbers:

Incorrect Social Security Numbers (SSNs) are by far the most common error people make when filing their refunds. Before the IRS even examines your documents, the organization verifies the SSN so any errors in this field of information can significantly increase the time it takes for the IRS to process your application.

So, if you want to make sure that you receive your tax refunds as early as possible, you need to double-check the social security number on your application. Further improve your chances of smooth processing by making sure that it’s easily readable.

2. Pay Attention to Your Filing Status:

Believe it or not, thousands of people file their taxes under the wrong filing status. In fact, this problem has become so common that the IRS itself has compiled a comprehensive guide that helps people determine their filing status.

To cut a long story short, there are 7 different statuses to choose from. Complete and accurate information about each status can be found by clicking here.

3. Typographical Errors Spell D-I-S-A-S-T-E-R:

Although typographical errors (or typos for short) are trivial and common when texting your friends, they’re nothing short of a nuisance as far as tax filing is concerned. An incorrect spelling of (say) your dependant’s last name can delay your tax refunds by a few weeks!

Therefore, it’s of the utmost importance to always double-check your spellings when filing your tax returns. We recommend having a loved one proofread your documents before submitting your application as this minimizes the chances of any typographical error flying under your radar.

4. Major Mathematical Mistakes:

Mathematics isn’t everybody’s strong suit, especially considering the fact that mathematical errors are ridiculously common when filing your taxes. People have been off by thousands of dollars in their calculations which is shocking to say the least!

This is another reason why we’re such strong advocates of filing your taxes electronically. By doing so, you eliminate the chances of making errors in additions and subtractions as the software automatically do these calculations for you.

5. Forgetting to Sign:

Of all the common mistakes found on this list, forgetting to sign and date the document is one that baffles us the most. Simply put; an unsigned legal document (in this case, the tax return) is something akin to an unsigned check; completely null and void!

So, once you’ve made sure that your tax return is free from mathematical and typographical errors and once you’ve double-checked the social security number and the filing status, sign your tax return. Finally, date the document and hand in for processing!

We understand that there are too many variables to juggle and analyze, and this can make the entire process of filing your tax returns incredibly frustrating and annoying. This is why we highly recommend using tax preparation services that file your taxes for you and guarantee you a quick tax refund.

If you live in El Paso or Las Cruces and require the services of tax return specialist, pick up the phone and get in touch with us! Our team has been providing simple tax return services online for more than 3 decades and can easily help you out with your tax problems.

Contact us today to learn more about how you stand to benefit from our services.