5 Common Mistakes That Lead To IRS Tax Problems In Atlanta
There are tax relates mistakes that are all too common and while many of these mistakes are made in a rather innocent manner, they can cause any number of IRS tax problems for Atlanta residents. Fortunately, we are here to lend helpful insight on these matters and keep you from experiencing IRS tax problems that led to more significant consequences in the Atlanta region.
If you would like to learn more about these common mistakes and how to avoid them (and the IRS tax problems that they can cause), we urge all residents of Atlanta to read on and educate themselves so that they can avoid future difficulties.
1. Math Related Errors
Errors related to arithmetic happen all too often during the process of filing taxes and when you do not take the time to look over your math before you commence the filing process, you could be making a grave error that leads to severe tax related problems. If you know that you are someone who does not handle complex math equations as well as you should, this is a sure sign to allow a professional to step in for you. This keeps you from making avoidable mistakes.
2. Misspellings and Wrongful Name Usage
You might have allowed yourself to think that the IRS strictly focuses on numbers, but they also pay close attention to the names on your return as well. If the names are misspelled or used wrongfully on your return, this keeps children and spouses from successfully matching the tax number that was assigned to them by the Social Security Administration. If you have married recently, be sure to use the right name when filing.
3. Failure to Report All Income
Did you do any side work this year outside of your usual place of employment? Did your savings and investment accounts produce a larger yield than what was originally expected? If so, these forms of income need to be reported as soon as possible. The IRS receives forms that let them know exactly how much money you make from the financial firms that are linked to your payment, so there is no way for you to successfully avoid the taxation that is associated with these added forms of income.
4. Lack of Signature
The IRS cannot process your filings unless you provide them with a signature and while might seem like a no brainer to many, there are far too many people who make this all too common mistake year in and year out. Even taxpayers who choose to file electronically must provide a signature, which is done with the usage of a PIN (also known as a personal identification number.)
5. Missing The Assigned Deadline
Putting off our tax filing until the very last moment is something that most of us have done in the past and when we partake in this seemingly harmless bit of procrastination, we place ourselves at risk of missing the deadline that has been assigned to us. Filing well in advance is the best way to make this common pitfall a thing of the past.