Errors in your Kissimmee tax preparation can delay your tax return filing as well the tax refund you are counting on. With a little extra attention and carefulness, you can keep away from few simple avoidable mistakes and make your Kissimmee tax preparation filing procedure smooth and swift.
All those individuals in Kissimmee looking for a simple guide for Kissimmee tax preparation can get help from this article to learn the common mistakes they should avoid in order to ensure accurate and complete submission of tax return.
Incorrect or Missing Social Security Number
The most common mistake in Kissimmee tax preparation filing is writing inaccurate or incomplete social security information. Always make sure that you write your correct name, address, and social security number in the fields. In addition to your personal details, you need to mention the correct social security information of your spouse, your dependents, and qualifying children for child tax credit or earned income credit.
Moreover, if you are filing the return separately from your spouse, remember not to add your spouse’s details including social security number in the form.
Despite automated options available for Kissimmee tax preparation filing, many people still prefer to do this job manually. Manual tax calculation is often prone to computation errors which may lead to inaccurate reporting of facts and figures.
The simple errors of basic calculations may owe you a large sum of money. The mistake of reporting too much income or insignificant deductions may make you pay more than you would otherwise have to. Moreover, the IRS may take action against you for giving inaccurate figures if they find your case suspicious.
These simple yet radical mistakes can be avoided by double-checking everything. Plus, it is best if you use Kissimmee tax preparation computation software which may reduce the likelihood of these errors to a substantial degree.
Claiming Inaccurate Deductions
One of the biggest mistakes that Kissimmee tax preparation filers make is stating either too much or too few deductions. If you are claiming too much illegal deductions, you may be alleged to tax evasion which may put you at risk of being audited. In more severe case, you may be sent to jail for providing misleading information to the IRS.
On the other hand, if you are underreporting your deductions, that is not wise either. Take advantage of every legal deduction and tax credit you are entitled to. Make sure to mention all charitable contributions you have made in addition to all other deductible expenses.
Claiming the Wrong Filing Status
Your tax return is based on your filing status. Since the IRS strictly follows the criteria set for each Kissimmee tax preparation filing status, they may reject your return at once if you choose the incorrect status.
In order to avoid this situation, it is recommended to use Kissimmee tax preparation software that can help you choose the right status and prepare your tax return application more accurately.
If you need more information about our Kissimmee, 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.