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Top 5 Common Denver Tax Mistakes


With the increasing complexly of the tax code, it’s no wonder that taxpayers are getting confused and making mistakes. From misspellings to wrong numbers, filing mistakes are a common occurrence. Here are the top most common tax mistakes and how to make sure you don’t make them yourself:
  1. It may seem like the simplest part of filing your taxes, but people still forget to sign their tax returns. If your return isn’t signed, then it isn’t valid. Also make sure you have two signatures if you’re filing jointly.
  2. While many report their social security number correctly, they often enter them wrong for their children or other family members. Always double check these numbers to make sure that you won’t have your return sent back to you.
  3. According to the IRS, one of the most common tax mistakes is putting the wrong name on a tax form. This mistake comes up a lot when someone changes their name after marriage and the name on the return doesn’t match the name in the IRS’s system. Make sure that you change your name with the appropriate authorities, such as the Social Security Administration before filing your taxes.
  4. What often confuses people is if they should choose to be head of household or single in their filing status. This happens most commonly with divorced parents of children who are minors. It’s hard to know who is legally entitled to claim the kids. Your Denver tax service can help you figure out the correct status to choose.
  5. Taxpayers may also mistakenly claim deductions or credits that they aren’t qualified for. However, they also miss out on tax breaks when they do qualify for them. According to the IRS, the most abused/neglected credits are: Earned Income Tax Credit, the Child and Dependent Care Credit, and the standard deduction. Consult with your Denver tax service to find out what you do and don’t qualify for.
Taxes are confusing, time consuming, and easy to make mistakes on. Don’t let your tax return stress you out. Call Bloch, Rothman, and Associates today to make sure you’re getting the most out of your return and that it’s filed accurately.Â