It's only half the battle to gathering forms, receipts, and other paperwork to complete your tax return. It is equally important to double-check your forms, figures, information, and packaging procedures once you've finished your return.
Please review your return and envelope for misprinted, overlooked, or miscalculated information. Any mistake can cause processing delays that may hold up your refund.
To prevent mistakes on your tax return, the tips below can serve as your checklist. And to avoid mailing delays, ensure that you have adequate postage and your complete return address on the IRS envelope.
Keep in mind that any delay could cause you notices, penalties, and interest charges.
Important Parts of Your Return
- If Federal Income Tax was with held, Not Social Security Tax, Entered on the Return? -- Both the federal income tax and FICA (social security tax) withheld will be shown by Form W-2.
To calculate your income tax withheld, remember to use the amount for federal income tax on your return.
- Is the entry For Standard Deduction Amount is correct? Use the correct standard deduction chart to find the right amount if you do not itemize deductions.
- Refund Or Balance Due Correct?--Check your addition and subtraction. If your total payments are above your total tax, you are due a refund. When your taxes due are above the amount you have already paid, a balance due is figured.
- Tax From Tax Tables Entered Correctly?--First, take the amount shown on the taxable income line of your Form 1040, 1040A, or 1040EZ and find the line in the tax table showing that amount.
Next, find the column for your marital status (married filing jointly, single, etc.) and read down the column. The amount shown where the income line and filing status column meet is your tax.
- Age/Blindness Box Checked?- Ensure that you check the appropriate box(es) on Form 1040 or Form 1040A if you are age 65 or older or blind, or your spouse is age 65 or older or blind.
- Earned Income Credit Claimed, Figured Correctly--This special tax credit can help some people who work and have incomes below a certain level. Get Publication 596, Earned Income Credit, or Publication 596 for more information on whether you qualify and how to figure the credit.
Given below are the important Double Checks on Your Return before Mailing:
- Attach all required forms and related schedules.
- Check for math errors.
- Make a copy of the return for your records.
- Attach Copy B of all Forms W-2.
- Place preprinted address label on your return and make any necessary changes on it.
- Sign and date your return (both husband and wife must sign a joint return).
- Include your check or money order payable to "Internal Revenue Service," not the "IRS", if you owe tax. You must write your social security number, daytime telephone number, tax form number, and tax year on your check or money order.
Given below are the important Mailing Procedures when filing your taxes.
- Write your complete return address on the envelope
- Attach the correct postage
- Use preprinted envelope that came in the tax package to mail your return. If you do not have one, address an envelope to the Internal Revenue Service Center for your state.
Related Articles:
|
