Tax Fact #2: Simple Errors Cost Taxpayers Millions
Fact: Errors cost taxpayers over $334 million in penalties in 2010.
Don’t give the IRS a reason to swoop in and penalize you. Here are six of the most common mistakes to avoid:
- Claiming the wrong filing status.
- Math errors.
- Incorrect or missing Social Security numbers.
- Incorrect or misspelling of dependent’s last name.
- Forgetting to include forms.
- Forgetting to sign and date the return.