Common Mistakes on Federal Income Tax Form

If you are making a payment on a joint return, provide the social security number that was listed first on the return, not both social security numbers! Follow the following procedures when making your tax payment.

• Use Form 1040-V, Payment Voucher.
• Enclose your payment and Form 1040–V with your Federal tax return.
• Do not staple or otherwise attach the payment or Form 1040–V to your return.
• Just put the payment loose in the envelope.
• If you make a payment in person at an IRS office, keep the date stamped receipt as part of your records.

If you are mailing and paying your estimated tax payments, mail them separately. Never combine your estimated tax payments with your federal income tax payments for the year. Estimated tax payments need to go to the address shown on the IRS tax form 1040-ES, Estimated Tax for Individuals.

Keep a copy of your tax return

A copy of your tax return is often needed for various purposes such as getting a mortgage and proving income or other reasons. It is imperative for taxpayers to keep record of their tax returns. Most of the time, if the taxpayer uses a tax preparer to prepare his or her tax return, the preparer will furnish copies of tax return if needed whenever needed. If the taxpayer uses a tax software to prepare his or her tax return himself or herself, make sure a copy is kept.

Summary of common mistakes and errors on federal income tax form

1. Incorrect or missing social security numbers (most common mistake).
2. Incorrect tax entered from the tables (software will avoid).
3. Computation errors in figuring the child and dependent care credit or the earned income credit. Also, missing or incorrect identification numbers for child care providers (tax software will help)
4. Withholding and estimated tax payments entered on the wrong line, and
5. Math Errors. Both addition and subtraction.

Any mistakes on tax returns will cause delay in processing your tax return by the IRS. The IRS will reject a tax return if any mistakes are found on it. Once the IRS has rejected the tax return, the taxpayer needs to fix the errors or mistakes and refile his or her tax return. Refiling tax returns cause delays and can result in slower tax refunds from the IRS.