List of Common Tax Return Errors

List of Common Tax Return Errors

By Julian Block (2013), former IRS Special Agent and tax Editor of Mutual Funds Magazine.

To avoid common tax return errors use the checklist below.

Tax Return Common Error Checklist
The following checklist may help you avoid errors on your tax return:

• Did you use the correct tax form; 1040EZ, 1040A, or 1040?
• Did you use the peel-off label sent to you by the IRS and enter any corrections?
• If you do not have a label, or there are too many corrections, did you clearly print your name, social security number, and address, including zip code directly on your tax return?
• Did you enter the names and social security numbers for yourself, your spouse, your dependents, and qualifying children for the earned income tax credit, exactly as they appear on the social security cards?  If there have been any name changes be sure to contact the Social Security Administration.
• Did you enter your social security number on all tax schedules and tax statements attached to your tax return?
• Did you check only one tax filing status – and is it the correct tax filing status?
• Did you check the appropriate tax exemption boxes and enter the names and social security numbers exactly as they appear on the Social Security Cards, for all of the dependents claimed? Is the total number of tax exemptions entered?
• Did you enter taxable income, tax deductions, and tax credits on the correct lines of your tax return and are the totals correct?
• If you show a negative amount on your tax return, did you put brackets around it?
• If you are taking the standard tax deduction and checked any box indicating either you or your spouse was age 65 or older or blind, did you find the correct amount to enter on Line 24 of Form 1040A or Line 40 of Form 1040?
• Did you figure the tax correctly? If you used the Tax Tables, did you use the correct column for your tax filing status?
• Did you indicate the amount of your tax overpayment you want applied to next year’s estimated tax? (If you do not enter a tax amount, the full tax overpayment will be refunded to you).
• Did you verify that your withdrawals from retirement accounts are at least the minimum amount required to be distributed if you are over age 70½?
• If you are self employed did you remember to deduct ½ of your self employment tax?
• Did you claim taxable state income tax refunds as taxable income on your tax return?
• Did you calculate your Alternative Minimum Tax on Form 6251 and compare it to your regular tax?
• If you worked for more than one employer did you check to see if you are entitled to a tax refund of any excess FICA tax withheld?
• If you had taxable social security did you use the correct base amount for your tax filing status?
• Did you compare your itemized tax deductions to your standard tax deduction and take the larger of the two?
• Did you determine whether you’ll have to pay estimated tax this year?
• Did you make sure that you entered your former spouse’s social security number on Line 31b of Form 1040 if you are deducting alimony?
• Do you have a Form W-2 from all of your employers and did you attach Copy B of each to your tax return?
• Did you enter all tax withheld on your tax return?
• Did you attach any Form 1099s that show tax withheld?
• Did you attach all other necessary tax schedules and tax forms in the sequence number order given in the upper right-hand corner?
• Did you determine if you are entitled to any tax credits – and if so deduct them on your tax return?
• Did you check your arithmetic – both addition and subtraction.
• If you owe tax to the IRS, did you enclose a check or money order with the tax return and write your social security number, tax form, and tax year on the check?
• If attaching a check for tax payment did you compare the check to the amount of tax owed on the tax return to verify that they are the same amount?
• Did you sign and date the tax return? If it is a joint tax return, did your spouse also sign and date the tax return?
• Did you make a copy of the signed tax return and all tax schedules for your tax records?