If you haven’t filed your tax return yet, don’t rush to get it in as fast as you can. Why? Because many of the most common tax filing mistakes are made by those rushing to file close to the tax deadline. Common errors like failing to claim all possible deductibles, failing to claim side income sources, or failing to research a chosen tax preparer are among the mistakes many harried filers make.
So, if you haven’t filed yet, don’t panic. Instead, take some time to think carefully about your taxes, and remember to avoid these common tax filing mistakes.
Overlooking or Forgetting Documents
One of the most common mistakes people make when doing their taxes in a rush is forgetting to include important documents. Whether it’s forgetting a 1099 from a freelance job or forgetting to claim social security income, there are many different ways to make errors on a tax return when you aren’t filing carefully.
Forgetting You Can File An Extension
If you can’t locate certain tax documents or can’t file your taxes due to other extenuating circumstances, remember that you (or your tax preparer) can file for an extension. It’s much better to file for an extension and file correctly than it is to file an incomplete or incorrect return.
Forgetting Tax Breaks
Another very common mistake made by people filing their taxes in a hurry is forgetting to claim all their possible tax deductions. Making sure you maximize all your possible deductions is incredibly important when it comes to getting your best possible tax return. And, because of the Tax Cuts and Jobs Act, the 2017 tax year is the last time many deductions will be available— so make sure you take advantage of them while you still can.
Choosing an Inexperienced of Unqualified Tax Preparer
Many people rushing to get their taxes done at the last minute make a major mistake: choosing an inexperienced or unqualified tax preparer. When it’s close to the filing deadline, it’s tempting to see whichever tax preparer you find first. But, remember, there are no federal guidelines in place for who can prepare taxes and not all professional tax preparers are well trained at what they’re doing.
If you still need to file your taxes this year and you want to make sure you choose a qualified tax preparer, contact us at Vanguard Tax Relief today. Our staff is made up of only certified tax experts who know exactly how to best file your return, including how to maximize your deductions. When you choose Vanguard to file your taxes, you can rest easy knowing your taxes will be expertly prepared, ensuring you’ll get your best possible tax return— and that you’ll stay out of trouble with the IRS.