It is a prerequisite for every tax payer to keep a close check on filing deadlines. A majority of people make some common mistakes while filing their returns which may force them to pay additional interest and penalties. However, you don’t necessarily have to be a Kissimmee tax accountant in Orlando,FL to avoid making such mistakes. Here is a checklist of some usual tax mistakes that you can easily avoid with the guidance of professional tax services in Orlando, FL:
Tax Problem #1: Entering an Incorrect Social Security Number
The IRS suggests that a large number of people simply forget to enter their Social Security number while completing their income tax return forms. The Internal Revenue Service receives plenty of income tax returns every year that either don’t have a Social Security number or have a wrong one. The processing of your income tax returns is severely hindered if you fail to enter your own or your dependents’ correct Social Security number in the form. On receiving an incorrect Social Security number, the Internal Revenue Service will simply refuse all exemptions and deductions that you demand. You can easily avoid this mistake by rechecking your filed tax form. Make sure to check your form for any incorrect information prior to its submission.
Tax Problem #2: Not Including All Income Sources
While filing your income tax returns, you necessarily have to provide complete documentation of all your income sources. Make sure to attach all necessary paystubs, income records, and documentation related to miscellaneous income. Never try to hide any income as it will force the IRS to choose you for a tax audit, and you will then have to use IRS audit help services.
Tax Problem #3: Avoid Making Simple Mathematical Mistakes
Though it has become much easier to file income tax returns using electronic means, most people still like to file their income tax returns manually. The latter option may make you save adequate amounts, but it involves much greater chances of making mathematical mistakes. Filing an income tax return having too many calculation errors can eventually make you pay a large sum of money as the Internal Revenue Service will charge you according to the amounts mentioned in your income tax return. You can easily avoid mathematical errors by closely checking all calculations. Moreover, using income tax preparation service in Orlando, FL and Kissimmee can reduce the possibility of mathematical errors in your income tax return.
If you don’t find yourself capable to deal with tax matters, then taking up services of a professional tax accountant in Orlando, FL can be a good idea. Avoiding common income tax mistakes is really easy if you maintain a proper checklist while filing your income tax returns. Spend some extra time to double-check your tax forms, mathematical calculations, income documentation, or Social Security numbers so as to avoid tax problems in the times to come.
If you have any tax service related questions, contact us at 407-344-1012. One of our Kissimmee tax accountant in Orlando, FL will give you a FREE consultation. Freedomtax Accounting’s tax accountants and IRS enrolled agents have been serving the community for 15 years. Our main office is located in Kissimmee, FL, but our services can be provided nationwide. Our main market in Central Florida to the cities of Orlando, Poinciana, St. Cloud, and Hunters Creek, FL.