If a taxpayer makes a mistake on their quarterly or yearly tax return, this can trigger the IRS to audit your return and dig further to determine if any penalties should be enforced for the errors made. Sometimes these mistakes are just that, a mistake, while other times people willingly supply incorrect information to the IRS. They do this to avoid paying more of their hard-earned money to the government or to allow them to get a larger tax refund. Either way, if you made a mistake on your tax return, you need to amend it immediately in order to fix it or contact a Virginia tax attorney who can help get the issue resolved before the IRS attempts to hit you with fines, fees, and even garnish your wages.
What are some innocent tax mistakes that can bring upon issues with the IRS?
Based on some information provided by Forbes, there are nine common mistakes that you could potentially make that could have you facing serious consequences with the IRS. Some are shared below.
- Filing with the wrong social security number or failing to provide one. The IRS identifies you by your social security number and you wouldn’t want them receiving a return without it causing it to become delayed which could result in a penalty.
- You provide the IRS with the wrong name. Your name should match exactly what is listed on your social security card. The last thing you need is for an auditor to think you are trying to scam the IRS by filing with false information.
- Filing with the wrong status. This can become a rather serious issue as your filing status could mean a difference in how much you owe or get back in your refund. A common mistake taxpayers make is that they file as Head of Household rather than Single.
- Mathematical errors. Always check to ensure you are submitting accurate information. Double-check your return before you submit it or before your tax preparer does so to avoid any sort of fines. The IRS might think you are trying to claim less than you actually made but in reality, it was just a simple mix-up with numbers.
- Errors with deductions. The IRS allows certain individuals to deduct certain expenses only when they apply to that person. For instance, the Earned Income Credit is only for taxpayers who took in income that doesn’t go above a specified amount.
- You failed to sign or date your form.
Tax issues bring along an abundant amount of concern, especially when you have an auditor lurking around. So, if you or someone you know has recently learned they are being audited or made a mistake with their return but isn’t sure how to fix it, give us a call here at USAttorneys.com. We want you to get the correct help from the right professional which is why we will pair you up with a local Virginia tax attorney immediately, free of charge.