Did you guys file your taxes already? If you haven’t yet, there’s still time to comb your return for some of the most common tax mistakes. Even though we’re in our thirties, taxes haven’t gotten any more fun. Life’s weird like that sometimes.
Well, I guess we could make our own fun – let’s catch some silly little tax errors on all our returns. Good times.
So in the name of fun and happy times, here are some of the top tax mistakes you won’t make because you read OMGImThirty:
1. All names and numbers (such as your Social Security number) need to be absolutely correct. Make sure your name matches what’s on your social security card. Otherwise your taxes may get rejected or you may not be able to efile. The tax man doesn’t care that your cute pet name is Lollykins- he won’t appreciate you using it on your taxes.
2. Don’t file using a paper tax form- it’s a lot harder to catch any mathematical errors. Actually, are you really still using a paper form? Stop. Just no.
3. Make sure your filing status is correct. If you’re single you may qualify as Head of Household. Fancy stuff.
4. Make sure your bank account info is correct, especially if you changed banks recently. You want that tax refund to get safely into your hands, right? Yay, safe and sound tax refund- come home to me!
5. When you efile, you need to sign your tax return with a Pin number. You can easily use the one from last year…unless you forgot what it was…like I did. If that happens, you can simply enter your AGI from last year. Unless you have no idea what that was…like I did. Just don’t lose your pin, ok? You’ll just keep needing it year after year. Just put it in a safe place already, ok? Ok??
6. If you file for an extension, remember that you still have to PAY. You didn’t think you’d get to collect interest on that tax money for months on end, did you? You know there’s no way Uncle Sam would let you do that without penalty, right?
7. Don’t lose your paperwork…receipts can be requested by the IRS for up to 7 years after you’ve filed! If you’re a hoarder anyway, indulge your habit and add all receipts to that random paperwork collection under your bed.
8. Don’t file late unless you get an extension! And make sure to actually file! Did you conveniently forget to file already? You may think you’re soaring under the radar, but the IRS will find you. Yup yup, they will.
9. Account for all income sources. Even if you don’t tell Uncle Sam that you worked part time at the circus, you can safely wager that the circus reported every fire-eating penny you collected.
Happy filing! And let us know if you think of other common errors you’d like to share with others. Thanks for reading!