Most people think of tax return in Poinciana, and filing time as the most dreaded time of the year. Tax forms can tend to be complex and lengthy which can lead to people making several unwanted mistakes in filling those forms. Most mistakes that are done are because of haste and lack of attention.
There are a few mistakes that are recurring and most people tend to make them year after year. Here is a list of a few such mistakes that have been committed over and over again while filling your tax returns in Poinciana.
1. Wrongly Spelt names
You think tax filing is all about numbers? While a considerable part is related to numbers there are really important sections that need to be filled with words in their correct spellings otherwise they can be damaging to the overall filed tax return in Poinciana. The most important word section is the names section. If there is a difference in the spelling of names of the person himself, his children or his spouse from what is the spelling with the social security department, then the IRS acts. The Act of IRS can be to slow down the process of such a form or to reject is completely. This is particularly important for newlywed or divorced wives; they need to notify the social security department of their change in name before filing tax returns or such an issue can arise.
2. Social Security Number
The IRS has changed the form slightly over the past few years which means that there is no social security number printed on your forms. With this change the IRS has always stressed that entering your social security number on the form is extremely important. A social security number holds a great important to the validity of your tax return in Poinciana. The social security number is the key to you getting several deductions such as child tax credits etc.
3. Computation Errors
These are errors that are usually of the type such as mistakes in calculating the taxable income or calculating estimated tax payments. Such errors as well as lack of adequate information of deductions for child tax credit etc. means that these errors can cost you hundreds of dollars in your tax return that you could have saved if you carefully filed your tax return in Poinciana.
4. Wrong Account Numbers
The IRS has provided the tax payer with the opportunity to avail the service of direct deposit of the tax refund into any of their accounts. This service basically works when you provide your multiple or single account number and the tax authorities refund your extra tax amount into your accounts via the account numbers that you have provided. This is a bank transaction and once it happens it usually can’t be undone. The error that happens here is entering the wrong account numbers. When you start to enter multiple account numbers there can be a few misplaced numbers which can result in errors all round costing you money. Thus it is important that you limit the number of account numbers thatyou enter. Whichever you do enter should be double checked in order to avoid a costly error in filing your tax returns in Poinciana.
If you need more information about our Poinciana, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt.