Review your tax return accuracy to avoid the following common errors:
- Missing or Inaccurate Social Security Numbers. Be sure to enter each SSN on a tax return exactly as printed on the Social Security card.
- Misspelled Names. Spell all names listed on a tax return exactly as listed on that individual’s Social Security card.
- Filing Status Errors. Some people claim the wrong filing status, such as Head of Household instead of Single.
- Math Mistakes. Math errors are common. They range from simple addition and subtraction to more complex items. Transactions like figuring the taxable portion of a pension, IRA distribution or Social Security benefits are more difficult and result in more errors. Taxpayers should always double check their math.
- Errors in Figuring Tax Credits or Deductions. Filers can make mistakes figuring their Earned Income Tax Credit, Child and Dependent Care Credit, the standard deduction and other items. Taxpayers need to follow the instructions carefully. For example, if a taxpayer is age 65 or older, or blind, they should be sure to claim the correct, higher standard deduction.
- Incorrect Bank Account Numbers. The IRS strongly urges all taxpayers who have a refund due to choose direct deposit. It’s easy and convenient. Be careful to use the right routing and account numbers on the tax return. The fastest and safest way to get a refund is to combine e-file with direct deposit.
- Forms Not Signed. An unsigned tax return is like an unsigned check – it’s not valid. Both spouses must sign a joint return. Taxpayers can avoid this error by filing their return electronically. Sign an e-filed tax return digitally before sending it to the IRS.
- Electronic Filing PIN Errors. When e-filing, the taxpayer signs and validates the tax return electronically with a prior-year Self-Select Personal Identification Number. If they do not have or know their PIN, they should enter the Adjusted Gross Income from their 2015 tax return originally filed with the IRS. Taxpayers should keep a copy of their tax return.
Use Direct Deposit for your Tax Refund
You should consider a direct deposit for any refunds due. It’s easy, safe, fast, and the best way to get a refund. That’s why 80 percent of taxpayers choose it every year.
- Is Fast. The quickest way for taxpayers to get their refund is to electronically file their federal tax return and use direct deposit. Taxpayers who file a paper return can also use direct deposit.
- Is Secure. Since refunds go right into a bank account, there’s no risk of having a paper check stolen or lost. This is the same electronic transfer system that deposits nearly 98 percent of all Social Security and Veterans Affairs benefits into millions of accounts.
- Is Easy. Choosing direct deposit is easy. With e-file, and for paper returns. Make sure to enter the correct bank account and routing number.
- Has Options. Taxpayers can split refund into several financial accounts. These include checking, savings, health, education and certain retirement accounts. The maximum to deposit a refund is up to three accounts.